BOAD and local banks provide XOF128 billion for the implementation of road projects in Niger

Irène ASSIONGBONNews

Logo BOADNiamey, 27 Avril 2015. A syndicated loan agreement for raising funds for road project financing in Niger was signed by and between Messrs.  Bassary Touré, Vice-president of the West African Development Bank (BOAD), Amadou Boubacar Cissé, Minister of State, Minister of Planning, Land-Use Planning and Community Development, and the Managing Directors of local banks including Bank Of Africa Niger (BOA-NIGER), Banque Atlantique Niger (BAN), Société Nigérienne de Banque (SONIBANK), Banque Internationale pour l’Afrique au Niger (BIA NIGER), Banque Sahélo-Saharienne pour l’Investissement et le Commerce au Niger (BSIC NIGER) and ORABANK Niger. This agreement relates to the 1st phase of a comprehensive fundraising programme involving XOF220.237 billion.

Under this agreement, BOAD and the aforementioned local banks grant to the Government of Niger, a total amount of XOF128 billion including a direct contribution of XOF40 billion from BOAD and a loan amounting to XOF88 billion from the banking pool. This operation takes place as part of a mandate entrusted to BOAD in September 2014 for fundraising, a process that has been split into two phases by the institution. Resources mobilized under the current phase are meant for funding:

  • The proposed planning and asphalting of 70 km of urban thoroughfares in Niamey, including phases 2 and 3 involving a stretch of 48.2 km;
  • The proposed Hamani Diori interchange construction and modernization of the Katako market area in Niamey.

Mr. Bassary Toure underscored that the programme, of which these facilities form an integral part, “enshrines the vision of the Nigerien authorities pertaining to the construction of modern infrastructure necessary to open up the country and improve the living conditions of the populations.”

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