Experts Meet in Lome to Update the Study for the Establishment of the ECOWAS Fund for the Development and Financing of the Transport and Energy Sectors (FODETE)

Experts from member states of the Economic Community of West African States (ECOWAS) are meeting from August 29 to 30, 2024 in Lome, Togo, to update the study for the establishment of the ECOWAS Fund for the Development and Financing of the Transport and Energy Sectors (FODETE). The consultative meeting is organized by the ECOWAS Project Preparation and Development Unit (PPDU). The meeting, which saw the virtual participation of ECOWAS Commissioner Sediko DOUKA in charge of Infrastructure, Energy and Digitization, was launched by the Representative of the Minister of Economy and Finance of the Togolese Republic.

The purpose of the consultative meeting is to examine the corrected final report on the implementation of FODETE, following the latest recommendations made by the experts at the technical meeting held from March 6 to 8, 2024 in Abidjan. It could be recalled that the Abidjan meeting, which was attended by representatives of the ECOWAS National Offices and the Ministries of Finance/Planning of each member state, focused on the timetable for setting up FODETE, as well as the levy rates to be applied by sector.

At the opening of the meeting, Commissioner Sediko DOUKA, on behalf of H.E. Omar Alieu TOURAY, President of the ECOWAS Commission, thanked the Government of Togo and its Head of State for having accepted to host this regional consultative meeting, and for their constant support for the cause of integration and development in the ECOWAS region in general, and for the development of regional infrastructures in particular.

According to the ECOWAS Commissioner in charge of Infrastructure, the project to create FODETE bears witness to ECOWAS’s strong commitment to mobilizing internal financial resources to finance infrastructure, the basis of all development, and a factor in stability, job creation and peace.

“To this end, the ECOWAS Commission undertook four advocacy missions to Ghana, Senegal, Nigeria and Côte d’Ivoire. The aim of these missions was to raise awareness of the FODETE dossier, to demonstrate the advantages of FODETE in terms of sustainable infrastructure financing, and to take into account the concerns of the various countries. I am pleased to inform you that the advocacy missions were well received by the various member states, who reaffirmed their support for the FODETE dossier,” said Commissioner DOUKA.

In his official opening address, delivered on behalf of H.E. Essowè Georges BARCOLA, the new Minister of Finance and Economy of the Republic of Togo, Mr. Ahodo-Abalo TCHAMDJA, Director of Conjoncture and Macroeconomic Forecasting, reiterated the commitment of the Government of Togo to continue supporting FODETE to become a sustainable financing model that will stimulate service delivery in the region’s transport and energy sectors.

He added: “Togo is also convinced of FODETE’s potential to provide a sustainable financing mechanism to reinforce collective economic growth within the region”.

At the end of the two-day meeting, the experts will finalize a clear roadmap for adoption by the ECOWAS Statutory Bodies and implementation of the ECOWAS Fund for the Development and Financing of the Transport and Energy Sectors (FODETE).