BOAD emphasises focus on public-private partnerships - CNBC Africa

BOAD emphasises focus on public-private partnerships

Western Africa

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BOAD says a special focus will be placed on the promotion of public-private partnerships. PHOTO: Natural Stone Tile

This is after it stated its intention to approve long or medium-term loans in the amount of 1,100 billion West African francs, excluding the Energy Development Fund (FDE), managed by the BOAD.

“Following the adoption of the minutes of its 94th board meeting, the board considered and approved the 2014 to 2018 financial outlook update as well as the 2015 to 2017 programme-budgeting,” it said.

The BOAD added that the financial outlook update sets out the volume of activities per sector, estimates the financial resources required to cover commitments, and defines the intervention conditions of the bank.

“The business volume projected during this five-year period includes 217 billion West African francs for short-term credit facilities, 48.9 billion West African francs for equity investments and 20 billion West African francs for guarantees,” the bank said.

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“A special focus will be placed on the search for co-funding, financing arrangements and promotion of public-private partnerships.”

According to the BOAD, resource mobilisation is also expected to be one of the key priorities in order for the institution to better support its member countries in their development drive.

“BOAD plans to resort to the regional capital market to raise about 725 billion West African francs over the next four years, as well as a borrowing involving 250 billion West African francs in the international capital market,” it said.

“The preparation of this financial outlook update took place in a context marked by the adoption in last September of a new strategic plan for 2015 to 2019, with the objective of making BOAD a solid development bank for economic integration and transformation in West Africa.”