May 26, 2021. The Board of Directors of the West African Development Bank (BOAD) met by videoconference for its 123rd ordinary session, under the chairmanship of Mr Serge EKUE, Chairman of the Board of Directors, President of BOAD.
Having approved the minutes of the 122ème meeting, held on March 17, 2021, the Board examined and approved four (04) financing proposals for a total amount of FCFA 95 billion, a proposal to restructure loan conditions and a short-term line of credit in favor of BOAD. These new approvals bring BOAD’s total commitments (all operations combined) since the start of operations in 1976 to 6, ,430.2 billion FCFA.
The loans approved concern the partial financing of the following projects :
- Programme d’Assainissement Pluvial des Villes Secondaires (PAPVS) in the Republic of Benin: city of Parakou (BOAD. The purpose of the overall program is to build primary and secondary stormwater drains in secondary towns, and to develop urban roads in the area of influence of the planned drains. This BOAD project involves the construction of 12,041 ml of primary and secondary collectors and 1,882 ml of roads in the city of Parakou. The overall objective of the program is to reinforce the stormwater drainage network of the target cities, thereby helping to reduce the vulnerability of populations to flood risks, as well as realizing viable socio-economic infrastructures. Amount of the operation : 20 Milliards FCFA.
- Construction and asphalting of the Regional Road N°11 (RR11) Kolinka-Fara-Poura carrefour in Burkina Faso. The purpose of the project is: i) the construction and asphalting of regional road n°11 (RR11), Kolinka (junction RN20) -Niégo-Fara-Poura-Poura Carrefour (junction RN01) over a length of 92 km and a width of 10.20 m on the main section and 12.20 m when crossing built-up areas, ii) construction of an access ramp to the Fara Medical Centre, 2.5 km long and 10.20 m wide; and iii) construction of 100 km of rural tracks. The overall objective is to contribute to the strengthening de economic integration of the Boucle du Mouhoun, Centre-Ouest and Sud-Ouest regions. Amount of the operation : 30 Milliards FCFA.
- Rehabilitation and extension of Diffa Airport, in the Republic of Niger. The purpose of the project is to rehabilitate and extend Diffa airport, including (i) extending the runway from 1,800 m to 3,000 m and widening it from 30 m to 45 m (ii) construction of a 380 m long, 38 m wide taxiway and a 3.6 ha apron (iii) construction of an air traffic control tower (iv) construction of a terminal and VIP lounge (v) the construction of an enclosing wall ; (vi) carrying out related works and miscellaneous developments and (vii) supply and installation of miscellaneous equipment. The overall objective of the project is to improve the living environment of the urban population of Diffa and the growth of economic and commercial activities, thus contributing to poverty reduction in its area of influence. Amount of the operation : 25 Milliards FCFA.
- Creation and operation of an industrial and logistics park by Plateform Industrial Adétikopè (PIA) SAS in Togo. The project involves the construction and operation of a 132-hectare integrated industrial platform in Adétikopé (Togo). The aim is to contribute to (i) improving the added value of national agricultural and mining production by creating the conditions for its industrial transformation, and (ii) increase the country’s logistics capacity. Amount of the operation : 20 Milliards FCFA.
In addition to the above financing, the Board approved i) Rearrangement of the terms of the BOAD loan for the partial financing of the construction of a four-star hotel by CHAIN HOTEL ABIDJAN (CHA) SA in Côte d’Ivoire. and ii) establishment of a line of credit from the Arab Bank for Economic Development in Africa (BADEA) to the BOAD, to finance short-term operations.
Amount of the operation
FCFA 27.16 billion (US$ 50 million)
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.
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