The Economic Community of West African States (ECOWAS) and the World Bank Group will co-host the ECOWAS Investment Climate Scorecard Roundtable in Lagos, Nigeria from June 13-14, under the European funded Improved Business and Investment Climate in West Africa Project. The Project seeks to address a range of investment policy issues that constitute barriers for the private sector to invest efficiently across the region.
The purpose of the event is to launch the ECOWAS Investment Climate (IC) Scorecard, an innovative instrument that enables both the ECOWAS Commission and national policymakers of the Member States to identify investment barriers both nationally and regionally; track the progress of national investment-climate and investment-policy reforms; share good practices and proposed investment reforms both nationally and regionally; and encourage the creation of a transparent and attractive investment climate to enhance private sector-led development in West Africa.
Over 70 public and private sector representatives from 15 Member States of ECOWAS, as well as representatives from the ECOWAS Commission, the West African Economic and Monetary Union (WAEMU), the European Union, and the World Bank Group will attend the two-day event.
The specific aims and objectives of the event are as follows:
- Endorse the overall Scorecard framework, including both the diagnostic and process components of the Tool;
- Reach an agreement on the final indicators selected;
- Agree on all the investment-policy and investment-climate benchmark criteria;
- Agree on certain methods (e.g. partial reliance on average Doing Business performance results) to measure the performance;
- Agree on the evaluation criteria, including: (i) the grading scale to be used by private sector to evaluate performance under each Scorecard indicator; and (ii) private sector mechanism or/and modality to evaluate investment regulatory landscape in light of the Scorecard indicators; and
- And most importantly, for Pilot countries to agree on the specific reforms that each will undertake to be monitored by the regional Scorecard.
For more information, please contact: Obiajulu Ihonor, Senior Private Sector Specialist, email@example.com