3 min

The 126th BOAD Board of Directors authorizes new commitments for a total amount of 26 billion FCFA.

November 23, 2021. The Board of Directors of the West African Development Bank (BOAD) met by videoconference for its 126th ordinary session, under the chairmanship of Mr Serge EKUE, Chairman of the Board of Directors, President of BOAD.

Following approval of the minutes of the 125th meeting held on September 21, 2021 by videoconference, the directors examined and approved two (02) financing proposals for a total amount of FCFA 26 billion. These new approvals bring to 374.7 billion FCFA the amount of commitments to date for the year 2021, and 618 .7 billion FCFA, 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 :

  • Construction   de   l’Aéroport   International   de   Ouagadougou-Donsin   au   Burkina Faso.  The project involves the construction of a new international airport on the Donsin site, 35 km north of Ouagadougou, to replace the existing Ouagadougou International Airport.. This major infrastructure will contribute to: i) wealth creation ii) job creation and capacity building ; iii) traffic growth  aerial  from  the airport ;  and  iv)  improvement  from    de  de  social  through accompanying measures. Amount of the operation : 16 billion FCFA.
  • Development of the Ouédo site, as part of the construction of 10,849 social and economic housing units in the Commune of Abomey-Calavi, in  République  du  Bénin. The overall aim of the program is to help improve living conditions and reduce poverty. It will provide housing for at least 150 000 inhabitants and promote new ways of accessing social housing.
    Amount of the operation
     10 billion FCFA.

The Board also approved the provision of a fifth line of credit from the African Development Bank (ADB) to BOAD. This competition is designed to support private sector companies in the UEMOA zone in all areas of activity, with a particular focus on projects in the agricultural sector, the promotion of women and the improvement of living conditions for the population. A minimum of 10% of the credit line’s resources must be used to finance projects led by or benefiting women entrepreneurs. In line with the objectives of Plan Djoliba’s operational focus on the creation of value and productive jobs in support of governments and the private sector, this line will support micro, small and medium-sized enterprises, while emphasizing the promotion of women entrepreneurs, thus falling within the framework of BOAD’s Gender Policy implemented in its operational processes since 2012.  Amount of the operation : 150 million euros, or 98.393 billion FCFA.

In closing the proceedings, Chairman Serge EKUE, on behalf of the Board of Directors, thanked all the Bank’s teams for their mobilization and the technical resources deployed to ensure that the session was held under the best possible conditions.

For further information

Communication 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