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
-
East Africa Rolls Out Major AI Education Drive with University Network
05:50
-
Durban’s Main Container Terminal Set for 25-Year PPP to Drive Modernization
05:46
-
Zimbabwe Targets Rail Revival to Boost Regional Commerce
05:43
-
Liberia Approves Ivanhoe Atlantic Deal for Yekepa–Buchanan Rail Corridor
05:40
-
Eneo to Install 20,000 Smart Meters on Public Buildings in 2026 to Secure State Billing
05:31
-
Cameroon Telecom Investment Jumps 35% to CFA194.49bn in 2024
05:29
-
Mbalam Iron Ore Mine Delays First Exports to Early 2026
05:26
-
CDEC’s Richard Evina Obam Pushes Strict Strategy Amid Resistance
05:23
-
Tône 1 Commune Lays Groundwork for Decade-Long Waste Management Plan
16:00
-
France, Togo Launch CFA620M Local Governance Project
15:52
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
MindHYVE.ai and IUCEA partner to expand AI training across 170+ East African universities Agreement provides access to advanced agentic-AI tools,...
Transnet and ICTSI sign a 25-year partnership to upgrade Durban’s Pier 2 terminal Private investment aims to boost capacity to 2.8 million TEU and...
The NDS 2 strategy prioritizes rail rehabilitation to support mining and ease road pressure A new 217-km railway from Lion’s Den to Kafue will...
Parliament clears Ivanhoe Atlantic to operate the key Yekepa–Buchanan rail corridor Deal includes nearly $1 billion in fees and $800...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...