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BOAD and PUTTRU go digital to boost financing of energy projects in the WAEMU zone

The Banque Ouest-Africaine de Développement (BOAD) and PUTTRU Technologies have joined forces to facilitate and stimulate the movement of funds to energy companies operating within the member countries of the West African Economic and Monetary Union (UEMOA).

As a joint development finance institution for the member countries of the UEMOA zone, BOAD has chosen to focus its strategy on sustainable development for the period 2021-2025. Known as Plan Djoliba, this strategy will enable the BOAD to finance projects aimed at strengthening regional integration, contributing to the digital transformation of the UEMOA zone’s economies, creating value and productive jobs, and developing greater resistance to climate change.

In line with its strategic focus, the Bank has issued a The company was oversubscribed by more than six times its original value, with a total demand of 4.4 billion euros on the current market, demonstrating investors’ real confidence in this institution and in the WAEMU economies. Having mobilized a total of €750 million for this sustainable bond issue, BOAD plans to accelerate project financing.

To help achieve this goal, PUTTRU and BOAD will work together to digitize the traditional financing process for African energy companies, recognizing the growing role of technology in reducing the transaction costs of identifying investment opportunities in Africa.

PUTTRU is a technology company whose aim is to facilitate and accelerate the process of accessing funds for public and private African energy companies. PUTTRU enables taxpayers, energy companies and transaction advisory services to interact, negotiate, conclude and monitor investment agreements online by making its state-of-the-art digital platform available to them. This innovative platform also makes syndication possible, enabling various taxpayers and commercial and regional banks to participate in both private and public energy projects on a large, medium or small scale.

Over the coming months, BOAD and PUTTRU will redouble their efforts to identify, select and originate projects on the digital platform provided by PUTTRU. Project financing within BOAD’s financial portfolio will meet the bank’s specific criteria : long loan duration (up to 18 years) ; start of repayment within a maximum of 5 years ; and a disbursement period lasting from 5 to 18 years. In addition, commercial banks interested in accessing BOAD credit authorizations to finance transactions in the energy sector will be supported in their integration into the PUTTRU platform.

To register and join the PUTTRU platform, please send an e-mail to : info@puttru.com

For further information, please contact :

BOAD Communications and Public Relations Department

Tel: + 228 22 23 25 65 / WhatsApp: +228 99 99 32 15

Fax: + 228 22 23 24 38

Email: boadsiege@boad.org