Bassirou Diomaye Faye signs Alamein Declaration in Egypt

Bassirou Diomaye Faye West African Development Bank ECO currency NEPAD financial immunities

Senegalese President Bassirou Diomaye Faye participated in a strategic working visit to El-Alamein, Egypt, to engage with international investors and regional leaders. During the visit, Faye signed the Alamein Declaration, which commemorates 25 years of the NEPAD partnership and establishes commitments to fund the African private sector and support SMEs.

In his capacity as the current President of ECOWAS, Faye reaffirmed the commitment to launch the ECO regional single currency by 2027. He also held bilateral discussions with Egyptian President Abdel Fattah Al-Sissi to strengthen economic ties between Senegal and Egypt.

Separately, the West African Development Bank (BOAD) has moved to renounce its legal immunities and privileges. This decision, adopted by the Council of Ministers, aims to facilitate the bank's access to new financial resources from international partners. This shift follows recent engagements with Japanese lender Sumitomo Mitsui Banking Corporation (SMBC), which has provided various credit lines to the bank for agricultural and energy needs.

Entities

Bassirou Diomaye Faye · ECOWAS · NEPAD · Sumitomo Mitsui Banking Corporation · West African Development Bank

Claims

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[○ 1 SOURCE] The ECO regional single currency is scheduled to launch in 2027. actunet.net
[○ 1 SOURCE] The Council of Ministers adopted a decision for the West African Development Bank (BOAD) to renounce its immunities and privileges to facilitate mobilizing financial resources. www.lejecos.com
[○ 1 SOURCE] The renunciation of immunities follows a favorable opinion regarding a third financial facility from Sumitomo Mitsui Banking Corporation. www.lejecos.com
[○ 1 SOURCE] Senegalese President Bassirou Diomaye Faye signed the Alamein Declaration marking 25 years of the NEPAD partnership. actunet.net