Multinational - West African Development Bank (BOAD) - Line of Credit III


Project Summary

Approval Date 23 Mar 2016
Signature Date 21 Nov 2016
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 33,582,966.72
Status Implementation

Project General Description

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.

Project Objectives

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.

Beneficiaries

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.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-Z1-H00-042
Last Update 04 Dec 2020

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Contact Details

Email private-sector@afdb.org

Geographic Location

Country Multinational