Articles

THE ECOWAS BANK FOR INVESTMENT AND DEVELOPMENT (EBID) - The Bank for West Africa's Development

THE BANK FOR WEST AFRICA’S DEVELOPMENT  

The ECOWAS Bank for Investment and Development (EBID), which took over from the ECOWAS Fund, is now set to play a crucial role in the economic integration  of West Africa.   

The ECOWAS Bank for Investment and Development (EBID), based in Lomé, Togo, is the principal financial institution of the Economic Community of West African States (ECOWAS)

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APRM - AFRICAN PEER REVIEW MECHANISM - A catalyst for Good Governance

The African Peer Review Mechanism (APRM) What is it? How does it Operate?   * This special report was compiled byKaye Whiteman and Theo Salman  In June 2005 Ghana and Rwanda became the first two countries to undergo the first stage of review under the African Peer Review Mechanism (APRM).

Ghana was, in fact, the first country to submit itself voluntarily to this novel form of peer review, agreed at the 38th Ordinary Session of Heads of State and Government of the Organisation of African Unity in Durban, South Africa, on July 8, 2002. So what is the APRM, how and under what conditions does it operate?  Set out below is a summary of the process.

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WORKING TOWARDS THE ECO - A Spirit of Coorperation

In the spirit of cooperation and the tradition of integration for which the West African sub-region is noted, the West African Monetary Zone was conceived as an institution for achieving monetary union under the commitments made in the "Accra Declaration," signed by six West African countries. 

This was as a result of the impetus given to the idea of the "fast track" approach to integration and the political commitment to renewed economic cooperation, spearheaded by Nigeria and Ghana since December 1999 and subsequently accepted by The Gambia, Guinea, Sierra Leone and Liberia. 

The failure of the ECOWAS integration process to make significant progress since its inception in 1975 was one of the motivating factors behind the "fast- track" approach to integration.

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