The Board of Directors of the West African Development Bank (BOAD) met for its 134th ordinary session on Tuesday, March 28, 2023 in Guinea-Bissau. It was under the chairmanship of Serge EKUE, Chairman of the Board of Directors, Chairman of BOAD. Several commitments were made on this occasion for a total amount of 242 billion FCFA.
This session is the first of the fiftieth anniversary year of the Institution. After approving the minutes of the 133rd meeting, held on December 2 in Niamey (Niger), the Board approved the Bank’s annual accounts for the year ended December 31, 2022, approved the updated financial outlook, revised for the period 2023-2027, and approved the project to strengthen the skills of the Board of Directors. Ten new operations were also examined by the members of the Board, they concern the partial financing of the projects, below:
Establishment of a short-term loan in favor of Vista Group Holding SA, in Burkina Faso. The purpose of this credit is to provide financial support to the Vista group within the framework of the operation, called “ORA SPV HOLDING”. Amount of the operation: 25 billion FCFA
Project 2 of the Program for Strengthening Resilience to Food and Nutritional Insecurity in the Sahel (P2-P2RS), in the Republic of Niger. The objective of the project is to contribute to reducing poverty and improving the living conditions, food and nutritional security of the populations in its area of intervention. Amount of the operation: 16 billion FCFA
Project 2 of the Program to Strengthen Resilience to Food and Nutritional Insecurity in the Sahel (P2-P2RS), in the Republic of Senegal. The Bank’s contribution will enable, in particular, the hydro-agricultural development of 640 ha within the perimeter, the mechanical and biological restoration of 2,000 ha of degraded agricultural land and pastures, the development of 100 km of firebreaks and 250 ha of corridors, as well as the installation of agro-sylvo-pastoral and fisheries processing units, with a view to promoting value chains. Amount of the operation: 11 billion FCFA
Emergency Project to Strengthen the Resilience of Actors in the Agricultural Sector (PUR-KEBUR), in the Republic of Guinea-Bissau. The project will provide, among other things, emergency food assistance of 12,000 tonnes of food to vulnerable populations, and will make it possible to intensify rice and market gardening production over a cumulative area of 15,000 ha, through the supply to small producers , inputs and agricultural mechanization equipment, such as tractors, tillers and combine harvesters. Amount of the operation: 25 billion FCFA
Development of structuring urban roads and sanitation works in the city of Bissau, in the Republic of Guinea-Bissau. The implementation of the project will contribute to the improvement of urban mobility and the living conditions of the populations in the area concerned. This will specifically involve opening up ten (10) of the forty-seven (47) neighborhoods in the city of Bissau and facilitating access to the administrative center and shopping centers. It will also improve rainwater drainage and reduce the risk of flooding in certain neighborhoods of Bissau. Amount of the operation: 15 billion FCFA
Development of roads and various networks (VRD) and construction of structuring infrastructures of the Special Integrated Economic Zone of Diass (ZESID), in the Republic of Senegal. The project will create a logistics and industrial hub with quality infrastructure to boost and encourage industrial production and promote the emergence of a strong national private sector. Amount of the operation: 30 billion FCFA
Debt clearance program for strategic suppliers of the Société Energie du Mali (EDM-SA), in the Republic of Mali. The operation will contribute to ensuring the continuity of the supply of electricity to the Malian populations and to supporting the economic and social development of the country. Amount of the operation: 45 billion FCFA
Partial guarantee of a short-term facility granted by Banque Atlantique Côte d’Ivoire (BACI) to Compagnie Ivoirienne d’Electricité (CIE). The guarantee will allow the short-term financing of the cash needs of the CIE. Amount of the operation: 15 billion FCFA
Construction of the evacuation network associated with the CIPREL 5 and AZITO 4 thermal power plants, in the Republic of Côte d’Ivoire. This operation complements a previous competition granted for this project by the Board, at its June 2020 session. It will guarantee the evacuation and injection, into the interconnected network, of the electrical energy produced by the power stations. of CIPREL 5 and AZITO 4, in order to secure the supply of electrical energy and thus contribute to improving the quality of service. Amount of the operation: 20 billion FCFA
Construction of 4,300 social and economic housing units in Côte d’Ivoire: Tranche 1 of 1,160 housing units in Abidjan PK 24. The overall project concerns the construction of housing units in Abidjan, PK24 (2360), Yamoussoukro (420) and Bouaké (1520 ). 3 sites with a total area of 23 ha will also be serviced in these three towns. This operation, which is BOAD’s first intervention in the project, will concern 1,160 housing units in Abidjan, in the industrial zone of Yopougon PK 24, and the servicing of the site. Amount of the operation: 40 billion FCFA
These new approvals amounting to 242 billion FCFA bring to 7,469.3 billion FCFA the total commitments (all operations combined) of BOAD since the start of its activities.
The Board also issued a favorable opinion on the 2022 annual report, the modification of the Articles of Association of BOAD following the decision to increase the capital, the State of recovery of receivables on BOAD loans, on 28 February 2023, and the overall recovery situation, as of December 31, 2022.
It was also kept informed of the Minutes of the 43rd meeting of the BOAD Audit Committee, the implementation of the DJOLIBA Plan 2021-2025: assessment at the end of the 2nd year, the status of BOAD operations by country as of 12/31/2022, the status of implementation of the BOAD Information System Master Plan, for the year 2022, the status of use resources mobilized by BOAD as of January 31, 2023, the ESG by design Program project: on the way to strengthening CSR maturity within BOAD, the Implementation report for the 2022 annual tranche of the Budget- BOAD’s 2022-2024 program, the collection of recommendations and decisions taken at the meetings of BOAD’s Board of Directors held during the year 2022, and the minutes of the ordinary and extraordinary meetings of the Council of Ministers of UMOA held, respectively, on December 19 and 30, 2022.
Closing the proceedings, President Serge EKUE, on behalf of the Board of Directors, thanked the Bissau-Guinean authorities for the means implemented and the holding of this session in the best conditions.
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