Coronavirus: BOAD to lend each WAEMU State XOF15 billion to fight the pandemic

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Wednesday, 25 March 2020 16:37
Coronavirus: BOAD to lend each WAEMU State XOF15 billion to fight the pandemic

(Togo First) - Banque Ouest Africaine de Développement (BOAD) will allocate each WAEMU member State XOF15 billion to fight the coronavirus. The information was disclosed in a statement issued by the institution on March 25, 2020. 

In all, the States will thus receive XOF120 billion. Also, debt payments will be suspended. 

Last week, the Central Bank of West African States (BCEAO) announced a battery of measures to ease the health crisis that currently hit the WAEMU region. Moreover, it has put in place a XOF25 billion loan enhancement fund enabling “the provision of subsidy interests and boosting the size of concessional loans that it will grant to the States for urgent investments and purchasing equipment to fight the global pandemic.”

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