Release date: 27 October 2010
Promoter – Financial Intermediary
The BANK OF AFRICA Group, which opened its first establishment in 1982, operates commercial banks in 12 countries in sub-Saharan Africa.
Location
Description
The aim of the project is to expand BOA's banking network in West Africa.
Objectives
The project is consistent with the objectives of the Cotonou Agreement insofar as it (i) promotes regional integration in the financial sector thanks to the backing of an international banking group, (ii) supports the development of the banking sector, and (iii) offers businesses and households a better range of financial products.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 10 million.
Total cost (Approximate amount)
Estimated Project cost of EUR 44 million.
Environmental aspects
BOA has introduced procedures that apply to all lending operations involving major infrastructure and environmentally sensitive projects. It notifies potential customers that projects must comply with the environmental, health and safety requirements of the host country and includes appropriate environmental clauses in the loan contracts to ensure compliance.
Procurement
BOA will ensure that the equipment, works and services to be financed under this operation are procured at the most advantageous prices with a guarantee of quality and efficiency.
Status
Signed - 17/05/2011