WEST AFRICAN DEVELOPMENT BANK

Annual report

2017

Project Description

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In 2017, economic growth resurged in sub-Saharan Africa as a result of a stronger global economic growth, higher commodity prices and improved access to markets. Growth rate during the year stood at 2.8% as against 1.4% in 2016.

Economic performances were stronger in the WAEMU region. GDP increased by 6.7% up from 6.5% in 2016, reflecting dynamic commercial activities, especially in the service and construction sectors, as well as good agricultural outputs in most member countries.

For its part, BOAD supported economies of the Union by providing financial assistance totalling XOF557.6 billion, representing a 11.4% increase compared to 2016. Long and medium-term financing stood at XOF477.9 billion while XOF71.1 billion went into short-term loans, aimed at supporting various funding needs for economic operators. Approximately XOF8.6 billion went into strategic equity investments in the capital of banks and companies.

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