Funds to boost irrigation, electricity projects
Niger has secured more than 60.6 billion CFA francs about $105 million in fresh financing from the West African Development Bank (BOAD) to support irrigation and electricity projects, despite its withdrawal from the Economic Community of West African States (ECOWAS).
The financing package includes 30 billion CFA francs for the National Office for Hydro-Agricultural Development (ONAHA) to expand irrigation infrastructure and 30.6 billion CFA francs for the state-owned electricity company, NIGELEC, to increase power generation through a new 23-megawatt project.
The agreements were signed in Niamey on Tuesday in the presence of Prime Minister Ali Mahaman Zeine after talks between senior Nigerien officials and a BOAD delegation led by the bank’s president, Serge Ekue.
WAEMU Membership Keeps Funding Channel Open
Although Niger left ECOWAS alongside Mali and Burkina Faso to establish the Alliance of Sahel States (AES), it remains a member of the West African Economic and Monetary Union (WAEMU), which enables it to continue accessing financing from BOAD.
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The latest funding underscores the distinction between ECOWAS and WAEMU, with Niger retaining access to the regional development bank through its continued membership of the monetary union.
Projects Target Agriculture, Energy
Finance Minister Laouali Abdou Rafa said the irrigation funding would be used to acquire equipment and machinery needed to accelerate the country’s large-scale irrigation programme.
The project is expected to expand irrigated farmland, improve agricultural output and reduce the country’s dependence on increasingly unpredictable rainfall.
The electricity investment will finance a 23-megawatt power project aimed at increasing domestic electricity generation, improving energy security and supporting industrial growth.
Officials said the combined investments would also strengthen agro-processing activities by providing farmers and businesses with more reliable infrastructure.
Support for Development Agenda
The financing is expected to support Niger’s Refoundation Programme by expanding irrigation, improving electricity supply and advancing the country’s agricultural and industrial development goals.
The investment also demonstrates BOAD’s continued support for Niger’s development projects despite the country’s political realignment following the 2023 military takeover and its subsequent exit from ECOWAS.
Source: Business Insider Africa.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.