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BOAD grants $236 mln for 11 projects in WAEMU

Monday, 24 June 2019 17:25
BOAD grants $236 mln for 11 projects in WAEMU

(Ecofin Agency) - The West African Development Bank (BOAD) announced in a statement last week it is providing monies for 11 development projects within the WAEMU area.  

New financing includes seven mid- and long-term loans, totaling $199.7 million, directed to infrastructure projects. Beneficiary countries include Burkina Faso where the bank intends to grant $34.7 million for the Project to Boost Local Economies (PADEL) in 6 regions and $3.4 million for the rehabilitation of the Bobo-Dioulasso dry port.

Another $34.7 million will be used to develop and tar the Katchamba-Sadori section of the National Road 17 in Togo while $24.3 million will serve for the modernization of Niamey airport and the construction of Tillabéri airport in Niger.

More than $43.4 million will be steered in the site servicing plan and construction of 1,085 social and economic housing in Samanko, Mali. $52.09 million for the construction, rehabilitation and equipment of school facilities in Côte d'Ivoire and $6.9 million for the creation of an agro-industrial poultry complex in Toumodi, still in Côte d'Ivoire.

In addition to these projects, BOAD also plans two refinancing lines ($26.05 million), a short-term loan of $8.6 million, and a $2.08 million equity investment in Mansa Bank (Côte d'Ivoire).

Let’s note that these transactions bring the total commitments (all transactions combined) of BOAD to more than $9.8 billion, since it was created.

Moutiou Adjibi Nourou 

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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