Outline the role of development banks In the economic development of West African countries.
Explanation
The roles of development banks are:
(i) They provide long term loans for capital projects. Capital projects require huge capital which cannot be easily provided by the money market or individuals.
(ii) They also advise the industrialist on the surest or best way to invest.
(iii) They contribute to manpower development by making funds available to manpower training institutions.
(iv) They help in the supervision of development projects.