BOAD: Over CFA700 Billion Disbursed in H1 2024

Tuesday, 02 July 2024 16:07
BOAD: Over CFA700 Billion Disbursed in H1 2024

(Togo First) - The West African Development Bank, BOAD, disbursed over CFA700 billion to support WAEMU States in the first half of 2024. The Bank disclosed the figure last Thursday, June 27, during the 142nd Ordinary Session of its Board. The BOAD President, Serge Ekue, chaired the session.

"The mid-term review of financial forecasts for the 2024 financial year shows that in the first half of 2024, global financing granted by the Bank is estimated at 712.7 billion CFA francs, representing an execution rate of almost 86% of the annual program of activity", said Ekue. This "with respectively 64% of loans granted to States and 7% to public enterprises", he added.

Regarding resource mobilization, the BOAD seeks to raise more concessional funds to support development across the WAEMU.

According to Serge Ekue, although this mid-term review is "broadly in line with our objectives", it is now a matter of "intensifying our efforts in the mobilization of resources, notably concessional, even pre-concessional, their allocation, to provide our States and our populations with responses commensurate with the needs expressed and expectations."

At its recent board meeting, the BOAD released CFA60 billion for Togo, in support of two projects: the Agropoles project and the development of the Tchaasémondè - Gandé - Agbang road. The sum was allocated out of CFA162 billion newly allocated for the WAEMU.

Ayi Renaud Dossavi

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