How ECOWAS will lose more than $500 million if three countries leave – Official - Android Pols - latest news, natural remedies, and entertainment

How ECOWAS will lose more than $500 million if three countries leave – Official

According to a communique issued by ECOWAS after an extraordinary summit held on Saturday, the exit of the three countries will have serious consequences for the region, both economically and politically.

The Economic Community of West African States (ECOWAS) is facing a major crisis as three of its members, Niger, Mali and Burkina Faso, have announced their intention to withdraw from the regional bloc. The decision, which was made in January 2024, came after ECOWAS imposed sanctions on the three countries following military coups that toppled their democratically elected governments.

According to a communique issued by ECOWAS after an extraordinary summit held on Saturday, the exit of the three countries will have serious consequences for the region, both economically and politically. The communique stated that more than $500 million worth of ECOWAS projects and programmes will be halted or suspended if the three countries leave the bloc. These include initiatives in the areas of infrastructure, energy, agriculture, health, education, and trade.

The communique also warned that the withdrawal will have a negative impact on the security, stability, and integration of the region, as well as the welfare of the citizens of the three countries. It urged the three countries to reconsider their decision and to engage in dialogue, negotiations and mediation with ECOWAS to resolve their grievances. It reminded them of the benefits of being part of the ECOWAS community, such as free movement, common currency, and regional solidarity.

The communique highlighted some of the specific implications of the withdrawal, such as:

Political and security implications: The withdrawal will affect the cooperation and coordination among ECOWAS member states in combating terrorism and other security threats in the region. The three countries will no longer participate in regional counterterrorism initiatives, such as the Accra initiative and the Multinational Joint Task Force. They will also lose the support and recognition of ECOWAS in the international arena, where the bloc has often advocated for their interests and candidates in the African Union, the United Nations, and other bodies.
Socio-economic implications: The withdrawal will affect the immigration status of the citizens of the three countries, who will need visas to travel within the region and may face restrictions on their residence and business activities. They will also lose access to the ECOWAS passport, the ECOWAS biometric national identity card, and the ECOWAS brown card vehicle insurance. The withdrawal will also reduce the market size and the trade volume of ECOWAS, as the three countries account for 10 per cent of the region’s GDP. Furthermore, the withdrawal will affect the implementation of regional projects and programmes, such as the Regional Food Security Reserve, which the three countries hold 52 per cent of.
Institutional implications: The withdrawal will require the closure of several regional entities and offices located in the three countries, affecting the operations and the staff of ECOWAS. The communique noted that 130 ECOWAS staff members who are citizens of the three countries will lose their jobs. Currently, there are 77 staff members from Burkina Faso, 23 from Mali, and 32 from Niger. The communique also stated that the President of the ECOWAS Commission has been instructed to invite the three countries, along with Guinea, which is also under sanctions, to attend the technical and consultative meetings of ECOWAS as well as all security-related meetings.

The communique reiterated the urgent need for ECOWAS to expedite the operationalisation of the standby force in its kinetic mode to fight against terrorism in the region, including the elements of the Multinational Joint Task Force and the Accra initiative. It also encouraged ECOWAS to sustain its rapprochement and overtures towards the three countries and to remain seized of the situation.

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