|Approval Date||23 Mar 2016|
|Signature Date||21 Nov 2016|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
This project is the second part of the third line of credit of 140 million euros granted to the West African Development Bank (BOAD). Indeed, this support breaks down into two components: (i) a first component of 100 million euros with a 10-year tenor (with a two-year delay) and a second one of 40 million euros with a maturity of 15 years (including a two-year grace period). This second component is intended to provide the additional funding required for the implementation of a power plant project that is deemed of critical importance to the host country.
The objective of the project is to strengthen BOAD's financial capacity by granting it a third line of credit (LOC III) to provide the institution with medium and long-term requirements for the consolidation of its development, including its portfolio of private operations. The project will contribute to the achievement of 3 of the 5 pillars of the BOAD 2015-2019 Strategic Plan, namely: (i) accelerate regional integration through sustained financial support for infrastructure development; (ii) support inclusive growth, food security and sustainable development; and (iii) intensification of the resource mobilization process. In particular, the project will enable BOAD to implement its private sector financing strategy targeted at (i) sectors with high potential for job creation (mining, agriculture, industry, services, etc.), especially in rural areas; (ii) increase the value added of regional production; and (iii) export development.
The beneficiaries are the eight member states of the West African Economic and Monetary Union (WAEMU): Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
African Development Bank
|Last Update||04 Dec 2020|