Multinational - West African Development Bank (BOAD) - Line of Credit III

The project consists in granting to the West African Development Bank (BOAD) a third line of credit of 140 million euros, broken down into two components: (i) a first component of 100 million euros with a 10-year tenor (with a two-year delay) and (ii) a second amounting to 40 million euros with a maturity of 15 years (with a grace period of two years). The first part of the loan is intended to finance structuring projects in sectors considered a priority by BOAD and its Member States (energy, industry, agriculture, etc.). The second component is intended to provide the additional funding necessary for the implementation of a power plant project deemed of crucial importance for the host country. This operation follows a first grant of 40 million euros and a second of 64 million euros fully disbursed and used in accordance with the provisions of the credit agreement. These two initial lines of credit contributed significantly to the good results of BOAD's 2009-2013 Strategic Plan. This new operation will help support the BOAD growth dynamic that is progressively moving towards private sector financing, in a context where the mobilization of concessional resources is increasingly difficult.