1. WEST AFRICAN DEVELOPMENT BANK
PRESS RELEASE
The Board of Directors of BOAD approves the financing
of new projects involving about FCFA29 billion.
----------------------------------
Dakar, 24 June 2014. The Board of Directors of the West African Development
Bank (BOAD) held its 93
rd
ordinary meeting on Tuesday 24 June 2014 in the
premises of the Central Bank of West African States (BCEAO) in Dakar, under the
chairmanship of Mr. Christian Adovelande, President, and Chairman of the
Board of Directors.
Following the adoption of the minutes of its 92
nd
Board meeting held on 26
March 2014 in Lomé, the Board considered and approved the mid-term review
of 2014 financial outlook during this meeting.
Besides, the Board approved four medium and long-term loan proposals
involving a total amount of FCFA29.04 billion and a short-term facility in an
amount of FCFA5 billion. These new loans brought the aggregate amount of
loans granted by BOAD to FCFA3,124.9 billion for 715 projects. The cumulative
amount for short-term financing stood at FCFA147.1 billion.
Loan proposals approved relate to the following operations:
 Partial funding of the drinking water supply system reinforcement project in
Tafiré and surrounding communities in Cote d’Ivoire. The project aims to
increase drinking water production in the project area from 72m
3
/day as at
present to 1,500m
3
/day with the commissioning of facilities scheduled for
2016, and to 3,600m
3
/day by 2035. This loan will also help extend the
drinking water supply system to the Badikaha and N’golodougou
communities in order to supply water to about 40,000 residents by 2020 and
reduce by 50% the prevalence rate of water-borne diseases related to the
consumption of unsafe water. Loan amount: FCFA2.342 billion.
 Partial funding of the technical solid waste landfill site project in the city of
Lomé in Togo. The project will be carried out on an area of about 192
hectares, on which 300,000 tons/year of waste can be dumped according to
international standards over a minimum period of 20 years. The project
implementation will therefore contribute to a better protection of the urban
environment. Loan amount: FCFA6 billion.
 Consolidation of the outstanding initial loan to the Dakar-Diamniadio toll
motorway project with partial funding of its extension to the Blaise Diagne
international airport (AIBD) by Société Eiffage de la Nouvelle Autoroute
Concédée(SENAC) SA in Senegal. BOAD partially funded for FCFA 15 billion
the construction of the “Dakar-Diamniado” toll motorway which came into
use on 1
st
August 2013. To this outstanding initial loan, BOAD agrees to add
a new loan of FCFA5 billion for extending this motorway to the new Blaise
Diagne International Airport (AIBD) located at Diass, 47 km away from
Dakar. Consolidated loan amount from the Bank: FCFA18.498 billion.

2.  Construction of a cardboard packaging production unit by SCS Malienne de
Cartonnerie SA in Mali. The aim of this project is to produce over 5 million
units of cardboard bags and 1,200,000 packing bags in year 1, increasing
from 13% per annum to 8,500,000 cardboard packagings and 2 million
packing bags in year 5 (peak year). Loan amount: FCFA2.3 billion.
 Short-term facility to the Government of Senegal for the partial funding of
the emergency rural electrification programme (PUER). This programme
should contribute to the attainment of the government’s objective of
increasing rural electrification rate from 26% in 2013 to 60% in 2016.
Specifically, this operation co-funded with the local banking system concerns
the electrification of 150 villages distributed into 13 regions in Senegal. Loan
amount: FCFA 5 billion
The Board of Directors also approved the granting of a line of credit to BOAD by
the Islamic Corporation for Private Sector Development (ICD). This financial
support which is the first operation of ICD in West Africa will strengthen the
intervention capacity of BOAD in the private sector, especially in favour of small
and medium-sized enterprises. Facility amount: €30 million, or FCFA19.68
billion.
Furthermore, the Board of Directors delivered a favourable opinion on the
statement of recovery of BOAD loans as of 22 May 2014. It also took notice of
the following items:
 Progress report and major areas of the draft 2015-2019 strategic plan of
BOAD;
 Report on BOAD bond loan issue for 2014-2021;

 Minutes of the ordinary meeting of WAMU Council of Ministers held on 27
March 2014 in Yamoussoukro.
In closing the meeting, Chairman Christian Adovelande thanked, on behalf of
the Board of Directors, the Senegalese authorities for the warm and fraternal
welcome extended to Directors, as well as for the material and organizational
arrangements that facilitated the holding of this meeting under congenial
conditions.
Saïdou Ouedraogo
Director, Communication,
Marketing & Public Relations.
For more information:
Direction de la Communication et des Relations Publiques
Tel : 228 22 23 27 09
Fax : 228 22 23 24 38
Email : boadsiege@boad.org