BOAD raises over XOF35 billion to support digital transition in Benin
Cotonou, 22 July 2015. Mr. Christian Adovelande, President of the West African Development Bank (BOAD) was in attendance of the signing ceremony for the loan agreements concerning the financing of digital transition operations in Benin. These agreements were signed by and between Mr. Komi Koutche, Minister of Economy, Finance and Denationalization Programmes and the Managing Directors of local banks involved in the project, namely BOA Benin, ECOBANK Benin, Banque Atlantique Benin, and BGFI BANK Benin.
These agreements fall within the mandate entrusted with BOAD by the Beninese Government to raise an amount of XOF35.522 billion for the implementation of the recommendation GE 06 of the International Telecommunications Union relating to the conversion of all radio and TV stations from analog to digital format by 17 June 2015.
Mr. Christian Adovelande recalled that the highest authorities of the WAEMU region have made resource mobilization a top priority in order to ensure in due course digital switchover. In December 2013, the Union Council of Ministers had directed the WAEMU Commission and BOAD to assist member countries in mobilizing funds for digital switchover.
Noting that few African countries were able to meet the June 17 deadline on account of the high cost of the operation, the President however acknowledged the significant progress already made by Benin in building capacities, installing infrastructure and adopting legislation on digital terrestrial television.
Beyond the digital switchover, BOAD intends to increase its operations in the area of ICTs. As such, it will support the development of regional integrated high-speed communication networks as well as regional mobile telephone projects.
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