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ECOWAS State officials
and member States unanimously admit that private sector is the real
driving force behind growth, and hence, development. Thus, since
the early 90s,they adopted policies geared towards the promotion
of the private and have endeavoured to develop an enabling environment
for business.
Unfortunately, the States are still
faced to many challenge, and one of them is the problem of private
investment financing. Since the the death of national development
banks and specialised institutions, the role of private investment
financing has fallen to international financial institutions and
commercial banks.
The GARI Fund intends to act as
a catalyst in the assistance provided by these institutions to private
initiative in ensuring minimum safety to their financing operations.
Hence the GARI Fund continuosly seeks to be the leading support
instrument to the private sector, an instrument sufficiently flexible
, quick and up-to-date, fully integrated in the financing strategy
of credit institutions.
The Finanncial institution-GARI
partnership must help improve the selection, assessment and supervision
practices of investments funded, in order to enable the private
sector, through the growth of the ECOWAS member States. |