CEMAC: Funding of six projects worth 59 billion CFA francs by BDEAC

The funding’s resolution emerged from the ordinary session of the Board of Directors of the Central African States Development Bank (BDEAC) held recently.

The Central African States Development Bank (BDEAC) held its ordinary Board of Directors meeting at the SIPOPO International Conference Center in Malabo, Equatorial Guinea on May 3, 2023.

After examining the accounts for the year ended December 31, 2022, the directors expressed their satisfaction with the good performance of the bank’s key indicators.

They were particularly pleased with the net profit, which remained profitable in proportions similar to the previous year, despite the difficult context marked by the persistent impacts of the Covid-19 pandemic and the war in Ukraine.

The Board of Directors submitted therefore these accounts for approval at the next General Assembly.

In terms of commitments, it appears that during the year 2022, the Bank provided support for 27 projects totaling three hundred sixty-seven billion three hundred forty-nine million CFA francs (FCFA 367,349,000,000).

Regarding new financing requests for projects, the Council approved six (6) for a total amount of Fifty-nine billion and twenty-two million CFA francs (FCFA 59,022,000,000).

These projects, located in different countries of the CEMAC and covering various fields such as Transportation, Industry, Agro-industry, Real Estate, and Education, are in line with  Axis 1.4 of Strategic Orientation No. 1 of the Azobe Plan, which aims at  supporting  the diversification of member states’ economies.

Sitou