The military-led governments of Mali, Burkina Faso, and Niger have launched a regional investment bank capitalized at 500 billion CFA francs ($895 million) to finance infrastructure, energy, and agricultural projects across the three Sahelian nations. The bank will pool resources from Mali, Burkina Faso, and Niger, which are rich in mineral resources. Mali and Burkina Faso are among Africa’s top gold producers, while Niger holds significant uranium reserves, giving the bank strategic significance for regional economic development.
“Creating a development bank is a matter of financial stability, economic development, and financing strategic projects,” said Burkina Faso’s Finance Minister Aboubakar Nacanabo following a signing ceremony in Bamako, Mali’s capital.
Reports indicate that the three countries plan to introduce new taxes to fund the lender, with each nation expected to contribute around 5% of tax revenues. Serge Balima, an adviser to Burkina Faso’s junta leader Ibrahim Traoré, noted that the initiative aims to reduce dependence on foreign donors and strengthen local control over development priorities.
The bank’s creation comes amid political instability and climate pressures in the Sahel. Mali, Burkina Faso, and Niger recently withdrew from the Economic Community of West African States (ECOWAS), citing the bloc’s failure to support their fight against a widening Islamist insurgency.
Mali’s Finance Minister Alousséni Sanou confirmed that the bank is now officially operational following the commitment of its initial capital. The next step will be appointing its leadership, who will be tasked with mobilizing additional funding and driving development projects across the region.
This development marks a significant step toward financial autonomy, economic resilience, and accelerated infrastructure growth for the three Sahelian nations.
