BDEAC finances projects in Cemac zone


 | Source:  Financial Afrik

The Development Bank of Central African States (BDEAC) approved, 24 January 2018, during its regular board of directors in Brazzaville, the disbursement of 33 billion FCFA for projects under the strategic program 2017 -2022.

Much of this funding is for the construction of a hydrocarbon storage facility in Libreville, Gabon, managed by Gabon Global Logisitcs (GGL) at a cost of 20 billion CFA francs.

The bank is expected to release CFAF 5 billion for the rehabilitation and widening of the national road PK5-PK12, still in Libreville.

The BDEAC will also finance other job-creating projects in Central Africa, namely the construction of an agro-industrial complex of oil palms by the company Palm d’Or in Central Africa, up to 4,5 billion FCFA; the construction of the small hydropower station of Mbakaou quarry in Cameroon, for an envelope of eight hundred million CFA francs; the construction project of the Mama Ban Hospital Center in Bata, Equatorial Guinea, estimated at 2,9 billion F CFA.

Despite the persistence of the effects of the sharp drop in oil prices and the economic costs of maintaining peace and security in the subregion, the subregional financial institution could mobilize resources from Arab partners.

“The council has reviewed and approved two lines of credit with the Arab Bank for Economic Development of Africa for a total amount of thirty-five million dollars, 23,8 billion FCFA,” said the chairman of the board, Fortunato Ofa Mbo Nchama.

This financial windfall thus obtained will provide BDEAC with more resources to finance the SMEs / SMIs in the zone, especially those whose activities concern agriculture, agro-industry, fishing, livestock farming industry and trade with the Arab world.

Source: Financial Afrik