The establishment of two refinancing lines in favor of the Malian Solidarity Bank (BMS) for an amount of 10 billion FCFA and the National Bank for Agricultural Development (BNDA)
for the same amount and the financing of the Project for the rehabilitation of the hydroelectric facilities of Sélingué and Sotuba, also for 10 billion FCFA, are the three projects of our country approved among many others during the work of the 119th ordinary session of boad.

The Board of Directors of the West African Development Bank (BOAD) met on Tuesday, November 24, by videoconference for the work of its 119th ordinary session. It was under the chairmanship of Mr. Serge Ekue, Chairman of the Board of Directors, President of the sub-regional institution. He was appointed on 18 August by the WAMU Council of Ministers, following the favourable opinion of the WAEMU Conference of Heads of State and Government. He succeeded Christian Adovelande.

During this meeting, Directors reviewed and approved five new financial transactions amounting to CFAF 50 billion, bringing to CFAF 6,228 billion the total of its liabilities (all operations combined) since the start of its operational activities in 1976.

The loans approved at this session relate to the partial financing of certain projects submitted by bodies in the member countries of the financing institution. Among these projects, there is the one relating to the rehabilitation of the hydroelectric developments of Sélingué and Sotuba. The objective of this project is to contribute to the regular supply of electrical energy at a lower cost. The amount of the operation approved by the bank is 10 billion FCFA.

In addition to this government project, two Malian banks have also had their financing approved. This is the establishment of a refinancing line in favor of BMS-sa as part of the program to revive the activities of WAEMU companies following the health crisis related to Covid-19. The amount of the operation is also 10 billion FCFA.

 
The same amount was approved in favour of a refinancing line in favour of the BNDA, relating to the programme to revive the activities of WAEMU companies following the health crisis linked to Covid-19. In addition to the Malian projects, the West African financial institution has approved for 10 billion FCFA the project for the sedentarization of ruminant herds (ProSeR), Phase 1 in the Republic of Benin whose overall objective of the project is to contribute to the improvement of animal production and the rational management of farms. In addition, a third refinancing line has been set up for Coris Bank International SA (CBI SA) in Burkina Faso. The line is intended for the refinancing of productive investment projects in sectors eligible for Bank financing and is part of the third program initiated by BOAD and KFW to support micro, small and medium-sized enterprises in the WAEMU by improving their access to financing through the banking sector. commercial.

The amount of this operation is the same as the previous four. Closing the work, Serge Ekue thanked all the stakeholders for their mobilization and the technical means made available for the holding of this session in the best conditions. It should be emphasized that BOAD is the common institution for financing the development of the States of the West African Monetary Union (WAMU). A public institution of an international character, its purpose, at the end of Article 2 of its statutes, is "to promote the balanced development of member states and to achieve the economic integration of West Africa" by financing priority development projects.