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West Africa: BADEA provides financing of 90 billion CFA francs

03/08/2021
Categories: Sectors

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BADEA signed this August 31, 2021, 3 loan agreements respectively with the Republic of Cabo Verde, the Republic of Côte d'Ivoire, and the Republic of Guinea-Bissau, and a technical assistance agreement with Smart Africa.

This new financing from BADEA in West Africa amounts to approximately 90 billion CFA francs. This is, for Guinea Bissau, a road modernization project in the city of Bissau and its surroundings at a total cost of 48 million dollars, or about 27 billion CFA francs. For Côte d'Ivoire, this funding is dedicated to the construction and equipment of the University Hospital Center of Abobo. Its total cost is estimated at 96.36 million dollars equivalent to approximately 53 billion CFA francs. With regard to the Republic of Cabo Verde, this loan concerns the development and enhancement of three watersheds in the islands of Santiago, Santo Antao and Boavista, for a total cost of 36 million US dollars, or approximately 27 billion CFA francs, and whose achievement will contribute to the achievement of SDGs 1 and 2. In addition, BADEA signed with Smart Africa a technical assistance agreement of 95 thousand US dollars to finance a feasibility study of the "One Africa Network" to facilitate and increase the exchange of voice traffic and value-added services between African countries with the ultimate objective of reducing the cost of roaming and international communication services in Africa and maintaining intra -African within the limits of the continent.

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