BOAD approved the disbursement of CFA652 billion in 2020

Finance
Thursday, 10 December 2020 15:25
BOAD approved the disbursement of CFA652 billion in 2020

(Togo First) - This year (2020), the West African Development Bank (BOAD) approved the disbursement of CFA652.8 billion for multiple projects in the eight WAEMU states it covers. 

Among others, the regional institution injected CFA20 billion in the installation and exploitation of a cement factory by CIMCO SA, provided Togo CFA25 billion to pay part of the energy debt it owes Nigeria. 

The BOAD also supported the Kékéli Efficient Power plant project. Indeed, in addition to arranging, with Oragroup, an investment of CFA65 billion for the project this year, in 2019 it approved a partial financing of CFA25 billion for the plant’s construction. 

The Bank also spent CFA7 billion on the construction of a 30MW PV solar power plant in Blitta (around 267 km from Lomé). 

Séna Akoda

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