As of March 27, 2020, auctions on the tender windows of the Central Bank of West African States (BCEAO) will be set at a rate of 2.50%, its lowest intervention rate, it reads, Tuesday, March 31 on the bank's website. This measure is part of the ways and means to counter the negative impacts of the Covid-19 pandemic on the banking system and to ensure the financing of economic activity in the Union.

In its press release, the issuing body states: "This operation also aims to provide banks with the necessary resources at a lower cost, in order to strengthen their liquidity and allow them to maintain and increase credit to the economy, at lower rates, particularly in favour of companies and WAEMU member States".

Thus, the Central Bank expects banks to pass on this decrease in the cost of their resources to the interest rates of loans to customers, particularly in the context of credit adjustments to resident companies affected by the pandemic and which meet difficulties in ensuring payment of their instalments. The Central Bank reaffirms its determination to take any other measures that may prove necessary, as part of its mission, to counter the adverse effects of the Covid-19 pandemic on the economies of the Union.