(Benin gets 17.5 billion for the ProSeR 2 Project)
On Thursday, 19 May 2022, the Board of Directors of the West African Development Bank (BOAD) met face-to-face in Dakar, Senegal. This 130th Annual Meeting, held under the chairmanship of Serge EKUE, Chairman of the Board of Directors, President of BOAD, authorised new commitments of 98.56 billion CFA francs.
The 130th BOAD Board of Directors authorised new commitments for an amount of 98.56 billion CFA francs. A total of six project funding proposals were approved by the Directors. XOF 15 billion will be allocated to the Programme d ‘Appui au Développement des Economies Locales du Burkina Faso (PADEL, Phase 3). With a view to contributing to the socio-economic improvement of the populations at the grass-roots level in the regions of Burkina Faso. This project will focus, inter alia, on the development of employment channels in communities, and basic infrastructures for the benefit of the populations, and microenterprises. It will also work to strengthen the social protection and resilience of vulnerable households and their inclusion in the economic circuit. In favour of Benin, the Directors have agreed on a financing of XOF 17.5 billion. This envelope is dedicated to the ruminant herd sedentarization project, Phase 2 (ProSeR 2). The project will release and secure 57,000 ha of land for pastoralists and agro-herders for forage production, installing a Pastoral Pilot Camp (PPC), and strengthening 126 pastoralists’ camps. It is also planned to promote industrial units, set up production kits and strengthen the capacity of livestock farmers.
XOF 66.06 billion to basic infrastructures
Strengthening the rainwater drainage network in the city of Ouagadougou (development of the outfall at the Bangr Weogo Park in Burkina Faso) was granted a loan of XOF 4.5 billion. To contribute to the improvement of the living environment of the Ouagadougou populations, the project aims in particular to facilitate the drainage of rainwater by reducing, very significantly, the rate of flooded dwellings during rainy seasons. It will increase the number of people with access to sustainable sanitation. In addition, XOF 25 billion was allocated to Senegal for the construction of 1,529 classrooms, replacing temporary shelters, and ancillary works and XOF 6.56 billion for the construction and operation of a 120 MW combined-cycle thermal power plant by Malicounda Power SAS in Malicounda. The latter will contribute to improving the quality of electricity supply service and will ensure better coverage of the demand while securing electricity supply in the country. The first will cover the 14 regions of Senegal, and will contribute to meeting the demand for classrooms and improving the quality of the school environment. It aims to improve learning conditions for more than 85,000 disadvantaged children and to reduce the drop-out rate in the schools concerned by 50%.
The loan approved in Côte d’Ivoire is worth XOF 30 billion and will cover the construction and equipment of four (04) high schools of excellence and one (01) girls vocational school with boarding. The project will promote excellence through the establishment of dedicated educational infrastructure to increase the enrolment and completion rate of girls in secondary education. An overall capacity of more than 1,600 students is targeted, including 1,200 boarders. The 04 high schools will be built in the cities of Abengourou, Divo, Korhogo and Man, while the vocational school will be built in Bouna. A redevelopment of the loan characteristics for the partial financing of the project to extend and modernise the infrastructure of the Felix HOUPHOUËT-BOIGNY International Airport in Abidjan, Côte d ‘Ivoire by AERIA SA was also approved. These new approvals bring BOAD’s total commitments (all operations combined) since its operational activities started in 1976 to XOF 6,845.8 billion. It should be noted that the members of the Board subsequently gave a favourable opinion on BOAD’s Short-Term Capital Enhancement Measures.
