Lomé November 20, 2023. The Board of Directors of the West African Development Bank (BOAD) met by videoconference for its 138th ordinary session, under the chairmanship of Mr Serge EKUE, Chairman of the Board of Directors, President of BOAD.
After approving the minutes of the 137th meeting, held on September 20, 2023, in Abidjan (Côte d’Ivoire), the Board examined the note on the re-accreditation of the Green Climate Fund, presenting the context, the results obtained, the genesis of the re-accreditation process, and the operationalization of re-accreditation, for the period 2024-2028.
The Board of Directors approved seven (7) new operations for a total of CFAF 117 billion, bringing the Bank’s total commitments to date for 2023 to CFAF 816.9 billion, and total commitments (all operations combined) for BOAD to CFAF 8,034.3 billion since it began operations in 1976.
The loans approved concern the partial financing of the following projects:
- Establishment of refinancing lines for Banque Internationale pour l’Industrie et le Commerce (BIIC), in Benin. The aim of the project is to set up refinancing lines for BIIC to support Micro, Small and Medium-sized Enterprises (MSMEs) and develop off-grid solar electrification. Amount of the operation: 15 billion FCFA
- Subordinated loan to Banque Nationale d’Investissement (BNI), Côte d’Ivoire. The purpose of this subordinated loan is to provide the institution with stable resources that can be assimilated to effective equity capital, within the meaning of the prudential framework applicable to WAEMU credit institutions. Amount of the operation: 20 billion FCFA
- Establishment of refinancing lines for MANSA Bank in Côte d’Ivoire. The aim of the project is to set up refinancing lines with Mansa Bank to support Micro, Small and Medium-sized Enterprises (MSMEs) and develop off-grid solar electrification. Amount of the operation: 15 billion FCFA
- Arrangement of a loan to part-finance the project to set up and operate a mineral water and alcoholic beverage production unit by Société Africaine de Boissons Alcoolisées (SABA) Ivoire SA, in Bonoua (Côte d’Ivoire). Amount of the operation: 7 billion FCFA