The ECOWAS stand proved to be too small for the large number of participants who came to find out more about financing mechanisms for stakeholders in the agricultural sector and the Regional Fund for Food and Agriculture, on 5 October during the Agriculture and Animal Resources Fair (SARA).

Richard Guissou, Head of Strategic Planning and Monitoring & Evaluation at the RAAF, explained in simple and precise terms the funding methods currently in use as part of the implementation of ECOWAS's Agricultural Policy, ECOWAP. Two instruments for implementing and financing this policy were created in 2011, namely the Regional Agriculture and Food Agency (RAAF) and the Regional Agriculture and Food Fund (RAFF), which is housed at EBID in Lomé. While ensuring the technical implementation of ECOWAP programmes and investment plans, RAAF relies on regional institutions, organizations and stakeholders with proven expertise, using various operating methods including calls for project proposals, which involve identifying, testing, experimenting with and capitalising on innovations and good practices with a view to scaling them up.

Development actorss demonstrating the capacity to implement innovations are eligible for the various calls for proposals, including state or private bodies; national research centres and universities; international, national and local NGOs; producers' federations, associations and organisations; women's or youth associations and local authorities.

To date, more than 115 projects have been selected and implemented for a total of around 5 billion CFA francs.

The RAAF, created in 2011, is one of the main pillars of the overall institutional and financial framework for ECOWAS regional agricultural policy. It is funded by ECOWAS's own resources, supplemented by contributions from donors (Agence Française de Développement is the lead donor for ECOWAP). The ECOWAS Bank for Investment and Development (EBID) is responsible for proposing to the ECOWAS Commission a management mechanism for this Fund which has two major requirements, namely (i) to respond to the specificities and diversity of the financing needs of the agricultural sector in complementarity with national financing mechanisms and (ii) to guarantee sound management of the funds and ensure transparency in their allocation and use in accordance with internationally recognised management rules.

The EBID representatives implementing the AARF also emphasised that the AARF provides financial support to both public and private sector stakeholders.

During this side event, ECOWAS, through the RAAF and EBID, presented the innovative and structuring mechanisms that enable it to contribute to agricultural development and ensure food security for the people of West Africa. The Director of EBID's Public Sector Operations Department, Hugues GOA, and the Director of Agriculture and Rural Development of the ECOWAS Commission, Alain Sy Traoré, and their Assistants informed researchers, students, economic operators and producers about the opportunities offered by ECOWAS to provide financial support to public and private actors in the agricultural sector.