The West African Development Bank (BOAD) signed, on Wednesday 18 June in Niamey, a loan agreement of 50 billion CFA francs (about 76.22 million euros) with the Nigerien authorities with the aim of strengthening the financial stability of Société Nigérienne de Banque (SONIBANK), the country's first public bank.

This financing, according to both parties, will in particular make it possible to restore regulatory and prudential ratios, ensure the normal functioning of counters, and facilitate access to refinancing and the interbank market.

The first public bank in Niger, SONIBANK contributes to the financing and growth of the Nigerien economy, by intervening in the financing of businesses and industries and by stimulating domestic growth through the support of imports and exports, individuals and households, said the Prime Minister of Niger, Ali Mahaman Lamine Zeine, by signing the convention agreement.

This will allow SONIBANK to carry out several beneficial measures, such as “the restoration of regulatory and prudential ratios, the normal functioning of counters, access to refinancing and interbanking, access to refinancing and interbanking, the gradual restoration of the financing activity of the national economy and the renewal of confidence with the d Exponents”, for his part, said the director general of SONIBANK, Hamidine Aboubacar