ECOWAS leaders approve $5.2bn infrastructure deficit fund, FODETE, for transport and energy sectors.
ECOWAS requires $5.2bn to address its infrastructure deficit, according to Sediko Douka, the ECOWAS commissioner for infrastructure, energy and digitalisation. The leaders of the Economic Community of West African States have approved the creation of a fund, FODETE, to finance the transport and energy sectors. FODETE is financed by taxing member states' main export resources. Douka said the fund is expected to generate more than $350m annually.
March 28, 2024
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