Release date: 28 July 2004
Promoter – Financial Intermediary
West African Development Bank (BOAD).Location
Description
- Global loan to finance projects promoted by enterprises in the private and commercial public sectors in WAEMU member countries.
- Guarantee facility in the form of i) a partial guarantee for BOAD loans to enterprises and ii) a partial counter-guarantee for BOAD guarantees on an enterprise's bond issues or similar securities.
- Participation in BOAD's capital increase drawing on Investment Facility resources: from 0.3% to 0.6% of capital.
Objectives
To underpin and develop West African Development Bank (BOAD) operations in support of the private sector, promote a wider gamut of financial instruments and bolster the regional capital market.
Comments
Industrial, agribusiness, mining, tourism and service sectors.
Sector(s)
Proposed EIB finance (Approximate amount)
Indicative amounts: EUR 25 million for the Global Loan from EIB own resources; EUR 25 million for the Guarantee Facility made available under the Investment Facility; EUR 4.6 million for the participation in the capital increase (IF).
Total cost (Approximate amount)
The EIB loan will cover a maximum of 50% of the total cost of each project financed.
Environmental aspects
The policy and procedures manual for environmental management, recently adopted by BOAD's Board of Directors, is satisfactory.
Procurement
The Bank's procurement rules for global loans will apply.
Status
Signed - 10/12/2004
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).