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Signature(s)

Amount
€ 54,600,000
Sector(s)
Credit lines : € 25,000,000
Services : € 29,600,000
Signature date(s)
10/12/2004 : € 4,600,000
10/12/2004 : € 25,000,000
10/12/2004 : € 25,000,000
Link to source
Data sheet

Summary sheet

Release date
28 July 2004
Status
Reference
Signed | 10/12/2004
20030186
Project name
Promoter - financial intermediary
BOAD IV Global Loan
West African Development Bank (BOAD).
Proposed EIB finance (Approximate amount)
Total cost (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).
The EIB loan will cover a maximum of 50% of the total cost of each project financed.
Description
Objectives

  • 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.

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.

Environmental aspects
Procurement

The policy and procedures manual for environmental management, recently adopted by BOAD's Board of Directors, is satisfactory.

The Bank's procurement rules for global loans will apply.

Comments

Industrial, agribusiness, mining, tourism and service sectors.

Link to source
Summary sheet

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).

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Other links
Data sheet
Summary sheet

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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