BOAD’s investment in West Africa reached CFA5, 000 billion
Monday, 26 March 2018 18:22
The West African Development Bank (WADB)’s investment in West Africa reached CFA5, 000 billion ($9.66 billion), the institution indicated in a statement.
According to information relayed by Xinhua, this figure includes all the operations carried out by the bank for economies within West African Economic and Monetary Union (WAEMU), since it launched its activities. So, the latest CFA 195 million ($368.8 million), out of which CFA190 billion will be directed to local development projects in Côte d'Ivoire, Burkina Faso, Senegal and Benin and CFA5 billion to be used to buy shares in the CAURIS IV SMEs’ investment fund, is also included.
For the record, BOAD is a sub-regional institution created in 1973 and “focused on development of member economies towards balanced development and to prepare economies for future West African economic integration”.
Since 2015, the bank’s actions are in line with the strategic plan to boost economic integration and transformation in West Africa by 2019.
Moutiou Adjibi Nourou (intern)
Live News
-
The Gambia Leads the World in Rice Consumption Per Person
17:12
-
Congo Launches Work on 542-km Section of Corridor 13 Toward Regional Capitals
16:19
-
Maritime Dispute: Ghana Seeks Arbitration, Togo Pledges to Defend Claims
15:23
-
Egypt Forms Shipping Joint Venture to Expand Trade with East Africa
15:06
-
AfDB Explores Investment in Cattle and Poultry Value Chains in Togo
15:01
-
Angola Opens $635 Million Border Complex to Facilitate Trade with DRC
14:28
-
BGFIBank Cameroon Increases Capital to CFA50Bln Ahead of Stricter Banking Rules
20:58
-
Cameroon Signals Possible Return to Bvmac with Up to CFA150 Billion Bond
18:15
-
Public Enterprises Hold CFA1.5 Trillion in Assets, CFA493.9 Billion in External Debt at End-2024
18:08
-
Cameroon Faces CFA65.7 Billion in Repayments, Turns to Market for Relief
18:04
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...
Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...
Gambia world’s top rice consumer at 256 kg per capita Rice provides 75% rural caloric intake Country imports nearly 80% of rice consumption Rice...
Congo launches paving of 542-km Corridor 13 section Four-year project links Brazzaville to regional capitals Road aims boost trade, support AfCFTA...
Egypt’s CSAG signs JV deal to operate vessels New line to link Egyptian and East African ports Move supports export growth, intra-African trade...
Angola opens $635 million Luvo border complex Facility consolidates customs, police, immigration services Project aims boost DRC trade under...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...