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
-
Gulf Transfers to Cameroon Rebound to CFA11.8 Billion but Remain Marginal
21:02
-
Douala Sets Aside CFA1.8 Billion to Compensate Residents for Wouri Riverside Road
20:59
-
Cameroon’s Banana Exports Jump 22% in March, Driven by PHP
20:56
-
EU Funds Coastal Surveillance to Curb Illegal Fishing in Cameroon
20:54
-
Ethiopia Rolls Out National EV Charging Network in E-Mobility Push
20:49
-
Angola Issues $185M in Bonds to Recapitalize State Airline Ahead of Privatization
20:40
-
Togo returns to regional market with 30 billion CFA francs bond offering on April 17
19:56
-
CEMAC Lending Rises 10.7% in 2025 as Bad Loans Edge Lower
19:23
-
Côte d'Ivoire's PETROCI raises $358M for Phase 2 of Baleine oil field
18:57
-
Togo, Benin move to formalize cross-border horticultural trade
14:32
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
MTN Ghana completes separation of mobile money into new entity Move aims to boost fintech growth ...
Ethiopia rolling out nationwide EV charging network, EEU says First phase includes 40 stations, mainly in Addis Ababa Plan supports rapid EV growth,...
Angola issues $185 million bonds to recapitalize TAAG Move aims prepare airline for partial privatization, attract investors Restructuring...
PETROCI raises 200 billion CFA francs to fund Baleine project Financing supports Phase 2 expansion, prepares launch of Phase 3 Project boosts...
Senegal launches solar-plus-storage projects to boost grid stability Diass project adds first battery system, backed by KfW, AFD Linguère...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...