President’s ECOWAS Day Message
Today, we celebrate the 46th anniversary of the birthing of the single most impactful economic decision to have affected West Africa in all the facets of our endeavours in recent times. This is none other than the signing of an historic multilateral treaty in Lagos, Nigeria on May 28, 1975, by the then 16 Member States and the subsequent signing of a revised treaty in Cotonou, Benin Republic on July 24, 1993 by the Heads of State and Governments of the now 15 member states.
The founding fathers of the Economic Community of West African States (ECOWAS) had a dream to encourage, foster and accelerate the economic and social development of Member States to improve the living standards of the peoples. They clearly foresaw the enormous benefits that could be gained when there is unity of purpose and a commitment to the well being and sustainable existence of its people.
Our subregion and the African continent have suffered persistent setbacks to development throughout their existence, irrespective of the prevailing governance systems. Despite the abundance of natural resources and a rich cultural heritage, the developmental deficit has continued to widen and has relegated economic growth causing it to slow down significantly and even to negatives in some instances. The birth of ECOWAS has therefore afforded the opportunity to bring much needed transformation and change the narrative.
The ECOWAS Bank for Investment and Development (EBID) has played a leading role in the region in terms of financing development projects and programs across the various priority sectors in our member states. These initiatives align with the Bank’s objective of developing the public sector and promoting the private sector, thereby creating jobs, reducing poverty, and improving the lives of the people of the region. This has culminated in the financing of projects to the tune of approximately 3 billion dollars as of December 31, 2020, with the view to transforming ECOWAS communities.
The COVID 19 pandemic has tested the authenticity of the ECOWAS Community in terms of solidarity and regional coordination. It has laid bare many of the dire consequences of both existing economic inequalities and widespread inadequacies in social protection that are a great scar on our humanity. For example, as we speak the threat of famine affects 34 million of our fellow global citizens, and poverty at a global level is increasing, even in the most developed societies.
It is in the light of the above that the 46th anniversary theme, “Prosperity Beyond the Pandemic”, should become the rallying cry of all ECOWAS institutions- a call to pursue the developmental agenda of the sub-region innovatively and collectively with passion and sincerity.
We have previously experienced pandemics and global crises and have survived so we cannot sacrifice hope or commitment in our efforts to emerge from Covid-19. Surely, however, we must not just survive this period we must change and emerge improved. This change must be transformative, focused, and intentional if we are to revive our communities and nations so that we fare better than the period prior to the outbreak of the COVID 19 pandemic. Our actions must match our words, so that we become drivers of sustainable socio-economic growth that is inclusive.
Let us, across all our borders, commit to building a post-pandemic society based on solidarity, care, compassion, kindness and, above all, equality, which are crucial for the benefit of an inclusive, cohesive society.
Long life and prosperity to the peoples of ECOWAS, Long live our 15 Member States and long live EBID.
George Agyekum Donkor, PhD, DBA.
President
