Explain the meaning and uses of ECOWAS Funds for co­operation, compensation and development.

The Fund for co-operation, compensation and
development is one
of the agencies of ECOWAS set up for the maintenance of member states. It
is headed by a managing Director, who is appointed by the council of ministers. The
headquarters of this fund is Lome Togo. 

USES OF ECOWAS FUND

1. COMPENSATION:- The fund provides
   compensation to members which sustain loses in the process of the application of the ECOWAS treaty and that of free trade or trade liberalization
   policy. 
2. DEVELOPMENTPROJECTS: The fund is to
   promote development projects in member states of the community which are Jess development.
3. FOREIGN
   INVESTMENTS: To guarantee foreign
   investments proposed by member states, in line with established standard and to
   promote the harmonization of industrial policies.
4.  MOBILIZATION: To come
   up with a defined means of facilitating mobilization of
   internal and external resources for development in member states.
5.  EFFECTS OF LOCATING PROJECTS: To reduce the pain
   and losses as a result of the location of projects of the community in any member state.