EBID to pay part of its debts next March 28th

Finance
Friday, 20 March 2020 17:02
EBID to pay part of its debts next March 28th

(Togo First) - On March 28, 2020, the ECOWAS Bank for Investment and Development (EBID) will clear part of its debts, totaling €5.487 million. 

The sum corresponds to semi-annual interests on a bond named BIDC-EBID 6.50% 2014-2021. Through this operation, the bank raised a total of XOF40 billion which was partly used to finance eight projects in Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo (where the monies served to build and start running a hotel). 

In effect, 87.53% of the capital needed for the eight projects was secured through the bond while the remaining 12.47% were provided by benefiting companies.

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