In 2015, BOAD conducted its activities in a sub-regional environment where economic growth was above 6% for the second consecutive year despite a less favourable external environment and a difficult security situation in some of its member countries.
The economic growth was driven by the service sector, investments in infrastructure, favourable crop seasons, as well as buoyant private consumption. At the same time, inflation remained moderate, at around 1%.
Funding granted by the Bank during the year, stood at XOF295.9 billion, including XOF236.5 billion for medium and long-term (MLT) loans and XOF59.4 billion for the short-term. About XOF4.5 billion of these funds were earmarked for strategic equity investments, while XOF24 billion were made available as refinancing facilities to several primary banks.
Loans granted by BOAD facilitated the implementation of greenfield investment projects in areas such as transport infrastructure, energy, water, agriculture, industry and services. They will also contribute towards improved competitiveness of economies, reduced vulnerability of certain segments of society, increased agricultural resilience and enhanced regional integration. The Bank’s total net commitments stood at XOF3,878.5 billion spent over 786 operations as at 31 December 2015.
As part of its resource mobilization efforts, the Bank signed with its partners four credit agreements totalling about XOF113.5 billion.. It also carried out a bond issue on the regional capital market, where it raised XOF71.8 billion.