European Union Signs agreements Worth €212.5m with ECOWAS
The European Union and the Economic Community of West African States (ECOWAS) on Thursday, October 19 signed seven financial agreements worth €212.5 million to stabilize West Africa and also promote development. The signing took place at the ECOWAS Commission in Abuja, Nigeria.
The signed agreements cover renewable energy, trade, affordable and clean food system, energy interconnectivity, regional integration, food security, migration and energy sustainability.
The European Commissioner for International Partnerships, Jutta Urpilainen stated that the agreements align with the support of the EU for ECOWAS's regional leadership and that the EU is aware of ECOWAS role in stabilizing democracy and rule of law in the region as "ECOWAS operates in a politically challenging context".
The president of ECOWAS Commission, Omar Touray stated that the strength in the partnership of the bodies is reflected in the signing of the agreements and it also plays a role in ECOWAS 4×4 strategic objectives and ECOWAS vision 2050.
The breakdown of agreements includes €34 million in support for immigration and free movement of people. This would be accomplished through encouraging the efficient implementation of the ECOWAS Common Approach on Migration and the ECOWAS Free Movement Protocol at the regional, national, and local levels.
With the help of €50 million, Africa's trade competitiveness and market access were supported. This would promote sustainable intra-African trade and strengthen trade between Africa and the EU.
The third agreement, at €11.5 million, dealt with the trade of services in Sub-Saharan Africa. In order to boost intra-regional, continental, and bilateral trade in services and enable deeper integration into regional and global value chains, it was intended to support the liberalization of services and exports for a few selected service industries.
A total of €25 million was set aside for renewable energy and building the region's power market. This is intended to increase the proportion of renewable energy in the energy mix.
€12 million is set aside for Regional Clean Cooking Action in West Africa - ReCCAWA. This is for the purpose of increasing access to clean, efficient, sustainable, and affordable cooking energy solutions in West Africa.
€20 million is held by the Project to support the Regional Food Security Storage Strategy in West Africa (PASRSSA). Its purpose is to facilitate the integrated and coordinated implementation of the ECOWAS regional storage plan and the regional governance of the Sahel Club and West African actors' access to food and nutrition.
The Program for the Development of the Pastoral Economy in West Africa and the Sahel (PRADEP-AOS) received support worth €60 million. This is to aid the livestock sector's contribution in transforming the food systems in the economies of West African countries.