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Home Business News Business

Germany commits €81 million to ECOWAS to tackle economy, insecurity, others  

Cyrus Ademola by Cyrus Ademola
October 30, 2023
in Business
Germany commits €81 million to ECOWAS to tackle economy, insecurity, others  
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The Federal Republic of Germany has provided the sum of €81 million to the Economic Community of West African States (ECOWAS) to tackle issues like insecurity, Infrastructural gaps, and climate change, among other concerns. 

Omar Touray, the President of the ECOWAS Commission, announced this during a press conference held on Sunday in Abuja, where he welcomed Olaf Scholz, the Chancellor of the Federal Republic of Germany. 

Speaking at the event, Scholz specified electricity, healthcare, peace, and security as the focal points for their partnership with ECOWAS. 

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  • “We have enjoyed the partnership in the areas of support for the regions. 
  • “Our mission in this is to improve the ECOWAS countries and its region. Our cooperation was felt during the pandemic, and we plan further to deepen our relationship with ECOWAS. 
  • “There have been six coups in West Africa since 2020, with the latest coming in July this year when the Republic of Niger’s army deposed and detained President Mohamed Bazoum. 
  • “The situation of peace and security is important at these critical times, and we value the peace that the region enjoyed before the coup in the ECOWAS region. 
  • “Also, we stand with not accepting coup, and when we look at the coup in Niger and that is why we want to deepen our cooperation,” he said.  

What ECOWAS is Saying 

Speaking earlier, Dr. Omar Touray, the President of the ECOWAS Commission, emphasized that the Chancellor’s visit symbolized the significant importance attached to Germany-ECOWAS cooperation. 

He said that recently, they had concluded the agreement of €81 million that the German government and its people had committed to boost the ECOWAS region in sectors of the economy. 

  • “As I have indicated to you during our little discussion, Germany has been a strong and consistent partner of ECOWAS and ECOWAS member states. 
  • “Recently, we have concluded an agreement to the tune of €81 million that the government of Germany have decided to grant the ECOWAS to support us in various areas. 
  • “Those are vital areas, as I have indicated, they cover areas such as peaceful and inclusive society, climate, energy transition, sustainable economy development, health, social protection and population. 
  • “These are important sectors, and we appreciate the support that you have given to us in these areas. 
  • “The recent agreement has brought Germany support to ECOWAS over decades or several years to close €500 million, we are very appreciative,” he said. 

Furthermore, Touray emphasized that they delved into the pressing issues plaguing the region such as insecurity, infrastructure shortcomings, and social development challenges. 

  • “We talked about the challenges that the region is facing, insecurity, infrastructure deficit, and social development, and we’ve agreed to continue to work in those areas. 
  • “Our regions are closely linked and what happens in one area affects the other, and we appreciate what Germany is doing individually and as well as through the European Union supporting this region. 
  • ‘We are particularly, appreciative of the partnership that we continue to enjoy with Germany and the EU,” he added.  

What you should know 

The Chancellor of the Federal Republic of Germany, Olaf Scholz arrived in Nigeria on Sunday, 29th of October, in a two-day trip aimed at strengthening bilateral relations between Germany and the Sub-Saharan region. 

While in Nigeria, Chancellor Scholz met President Bola Ahmed Tinubu and ECOWAS Commission President, Dr. Omar Alieu Touray in Abuja. 

He will also proceed to Lagos where he will open a Nigeria-German Business Conference organized by the Nigerian-German Chamber of Commerce. 

In Lagos, he will interface with representatives of Nigerian Civil Society as well as with Nigerian start-up entrepreneurs. 


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Tags: ECOWAS
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

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