is doing well after the first year of implementation of its second Strategic Plan.
Discussions focused on BOAD
ambitions for the coming years, as expressed in its Strategic Plan for 2015-2019.
Fitch explained that this rating takes into account BOAD
's strong shareholder support; it also broadly confirms the rating Moody's gave to BOAD
can access BCEAO's funding facility, which supports its intrinsic liquidity position.
Sullivan, managing director, head of Africa public sector who represented Citi at the ceremony, declared: "True to its longstanding commitment to providing innovative and best-in-class solutions to governments globally, Citi is delighted to support the Republic of Senegal's financing requirements and to work with the ICD, the BOAD
and the regional regulators on this ground-breaking Sukuk transaction in the WAEMU region.
We must acknowledge that the investment made by BOAD
has laid the foundation for this strong and positive development.
enjoys preferred creditor status with these states.
Christian Adovelande, President of the West African Development Bank (BOAD
) and Abdelaziz Khelef, Director General of the Arab Bank for Economic Development in Africa (BADEA), have signed an agreement under which BADEA has provided to BOAD
a credit facility of $20 million, or around FCFA 12 billion.
(West African Development Bank) will provide medium and long-term loans of XOF1,100bn ($2m) over 2015-18, focusing on co-funding, financing arrangements and promotion of public-private partnerships, and approving a total amount of XOF44bn: ($79.
To maximise the chance of success during implementation, "the program was prepared with full participation of key institutions (BCEAO, BOAD
, Conseil Regional de l'Epargne Publique et des Marches Financiers, Bourse Regionale des Valeurs Mobilieres, WAEMU Commission and market intermediaries) and the eight WAEMU governments.
95 per cent interest, net of taxes and may be purchased at BOAD
headquarters in Lome, at its resident missions located in the buildings of the national agencies of the BCEAO, or through WAEMU-approved MICs.
The loan is said to be for "backing the operations carried out by BOAD
for the private and public sectors in the sub-region".