3 min

130th BOAD Board of Directors authorizes new commitments worth 98.56 billion FCFA

Dakar, May 19, 2022. The Board of Directors of the West African Development Bank (BOAD) met in Dakar, Senegal, for its 130th ordinary session, under the chairmanship of Mr Serge EKUE, Chairman of the Board of Directors, President of BOAD.

The directors approved six (06) project financing proposals for a total amount of 98.56 billion FCFA. These new approvals bring to FCFA 6,845.8 billion the total commitments (all operations combined) of the BOAD since the start of its operational activities in 1976.

The loans approved concern the partial financing of the following projects :

  • Programme d’Appui au Développement des Economies Locales du Burkina Faso (PADEL, Phase 3). With a view to contributing to the socio-economic improvement of grassroots populations in the regions of Burkina Faso, the project will focus, among other things, on the development of job-creating sectors in communities, and basic infrastructure for the benefit of populations and micro-businesses. It will also strengthen social protection and the resilience of vulnerable households, as well as their inclusion in the economic circuit. Loan amount : 15 Milliards FCFA ;
  • Sedentarization of Ruminant Herds, Phase 2 (ProSeR 2) in the Republic of Benin. The project will involve freeing and securing 57 000 ha of land for herders and agro-pastoralists for forage production, the installation of a Pastoral Pilot Camp (CPP), and the reinforcement of 126 herders’ camps. There are also plans to promote industrial units, set up production kits and build breeders’ capacities. Loan amount : 17.5 Milliards FCFA ;
  • Reinforcement of Ouagadougou’s stormwater drainage network: development of the outfall at Bangr Weogo Park in Burkina Faso. To help improve the quality of life for the people of Ouagadougou, the project aims to facilitate rainwater drainage, significantly reducing the number of homes flooded during the rainy season. It will increase the number of people with access to sustainable sanitation services. Loan amount : FCFA 4.5 billion ;
  • Construction of 1,529 classrooms to replace temporary shelters, and ancillary works (second batch of the Programme de Remplacement des Abris Provisoires “PRORAP”) in the Republic of Senegal. The project will cover all 14 regions of Senegal, and will help meet the demand for classrooms and improve the quality of the school environment. It aims to improve learning conditions for over 85, ,000 disadvantaged children, and reduce the drop-out rate in the schools concerned by 50%. Loan amount : 25 Milliards FCFA ;
  • Construction and operation of a combined-cycle thermal power plant with a contractual capacity of 120 MW by Malicounda Power SAS in Malicounda, Senegal. This capacity will be made available to SENELEC from June 2022. It will help to improve the quality of the electricity supply service and ensure better coverage of demand while securing the country’s power supply. Loan amount : 6,56 Milliards Fcfa ;
  • Construction and equipping of four (04) lycées d’excellence and one (01) collège de jeunes filles with boarding facilities, in the Republic of Côte d’Ivoire. The project will promote excellence through the creation of dedicated educational infrastructures to increase the enrolment and completion rates of girls in secondary education. A total capacity of over 1,600 students is targeted, including 1,200 boarders. The 04 lycées will be built in the towns of Abengourou, Divo, Korhogo and Man, while the collège will be built in Bouna. Loan amount : 30 Milliards FCFA ;

A restructuring of the characteristics of the loan for the partial financing of the project to extend and modernize the infrastructure of the Felix HOUPHOUËT-BOIGNY International Airport in Abidjan, Côte d’Ivoire by Société AERIA SA was also approved.

The Board members then issued a favorable opinion on the BOAD’s short-term capital strengthening measures.

In closing the proceedings, Chairman Serge EKUE thanked the Senegalese authorities on behalf of the Board of Directors for the resources made available to ensure that the session was held under the best possible conditions.


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