West African Development Bank to receive $125 million
BOAD is a financial institution for the eight West African nations that make up the West African Economic and Monetary Union (UEMOA).
The credit line was approved by BOAD administrators during the bank's administration council's 95th ordinary session held.
In 2011, the same Chinese bank gave BOAD a credit line of 60 million euros to fund private sector activities in the UEMOA member states.
During Monday's meeting, the regional bank approved loans totalling to $84 million to fund projects in Mali, Senegal, Cote d'Ivoire and Benin.
UEMOA member states include Benin, Burkina Faso, Cote d'Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo. ■