Mr. Bassary Touré elected Vice-President of African Rural and Agricultural Credit Association (AFRACA)

logoLomé, 30 November 2016. Mr. Bassary Touré, Vice-President of BOAD, was elected Vice-President of African Rural and Agricultural Credit Association (AFRACA) for a 2-year term. This appointment was made during the 19th General Assembly of the Association held in Dakar on 25 November 2016 on the sidelines the 5th World Conference on Rural and Agricultural Finance.

Mr. Bassary Touré has now joined the AFRACA Executive Committee. Composed of seven members, the purpose of this committee is to provide strategic and policy guidance to the Secretariat of the Association, to monitor and oversee all activities undertaken by the Secretariat on behalf of the General Assembly.

Based in Nairobi, Kenya, AFRACA is an international organization whose mission is to improve rural credit environment by promoting a conducive policy framework and supporting member institutions to provide on a constant basis quality financial services to rural dwellers. It has 126 members including central banks, development banks and commercial banks as well as microcredit and agricultural research institutions.

Membership of AFRACA confirms the increasing commitment of BOAD to the issue of inclusive finance. The sub-regional bank strives to ensure better access for vulnerable populations to funding by supporting decentralized financing structures as well as national entities in charge of inclusive finance. National funds for microcredit and promotion of youth employment are mainly targeted. Moreover, as part of rural development projects financed by BOAD in the member countries, a portion of the resources is spent on credit.

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