BOAD approves $391m project financing for 6 countries

Region:

Middle East & Africa

The West African Development Bank (BOAD) has approved XOF228 billion (about $391 million) for development projects in the region.

The package comprises XOF128 billion for eight development projects in Mali, Cote d'lvoire, Niger, Togo, Benin and Senegal, as well as XOF100 billion of refinancing for lending insitutions in the West African Economic and Monetary Union framework.

The approved funding includes XOF5 billion for irrigation programme in Mali, XOF47.5 billion for road and electric power projects in Cote d'lvoire, and XOF15 billion for a road in Niger.

They also include XOF15 billion funding for a cross-border electric power project between Benin and Togo, XOF25 billion to help Togo clear its electric power linked debt, XOF20.5 billion for hotel and sports complex construction as well as agricultural projects in Senegal.

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