BDEAC lends Chad CFA 7 billion and issues CFA 10 billion letter of guarantee to Ecobank Congo
Wednesday, 30 November 2016 20:12
The board of directors of the Central African States Development Bank (BDEAC) met on November 29, 2016, in Brazzaville (Congo), with Abbas Mahamat Tolli presiding the session.
In regards to new loans to grant, the board approved additional loan of FCFA 7 billion to Chad for the Djemarya ruminants industrial operating complex.
The board also said it would issue a CFA 10 billion letter of guarantee to Ecobank Congo, to finance, partially, refined oil supplies from the Société Nationale des Pétroles du Congo (SNPC). “The letter of guarantee issued by the BDEAC will help cover the deficit in production of the Congolaise des Raffineries (CORAF), increase oil availability and support Congo’s economy, knowingly its transport, hospital, and industries sectors, as well improve livelihood of populations, the Bank said.
Sylvain Andzongo
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