The Confederation of Sahel States (AES) has officially launched its joint financial institution, the Confederation Investment and Development Bank (BCID-AES), marking a key milestone in regional efforts to finance strategic development projects.
The bank was inaugurated on December 23 in Bamako by Mali’s President Assimi Goïta, Niger’s President Abdourahamane Tiani, and Burkina Faso’s President Ibrahim Traoré. BCID-AES begins operations with an initial capital of CFA500 billion, equivalent to approximately US$899 million, and is headquartered in Mali’s capital.
The institution’s mandate is to mobilize sovereign resources and fund priority projects across AES member states, targeting sectors including road infrastructure and regional connectivity, agriculture and food security, energy and cross-border interconnections, and support for private enterprises.
BCID-AES is designed to function as a regional development bank, akin to the West African Development Bank (BOAD) in WAEMU and the Development Bank of Central African States (BDEAC) in the CEMAC region. These institutions have historically mobilized financing for public and private projects, and BCID-AES aims to provide similar support tailored to the AES region.
The bank’s leadership team has not yet been disclosed, and staff recruitment is underway. Analysts note that AES nationals previously employed at the ECOWAS Bank for Investment and Development (EBID) may join BCID-AES, bringing experience and expertise to the new institution.
According to Burkina Faso’s presidency, BCID-AES is expected to strengthen economic sovereignty, facilitate regional development, and support initiatives that promote sustainable growth and investment in member countries.
