Niger: BOAD and local banks to invest about 128Bln CFA francs for roads construction

routesThe Vice President of the West African Development Bank (BOAD), Bassary TOURE,  Amadou Boubacar Cisse, Minister of State, Minister of Planning, Spatial Planning and Community Development, and the CEOs of Bank Of Africa Niger (BOA-NIGER), Bank Atlantic Niger (BAN), the Nigerian Bank Corporation (SONIBANK), the International Bank for Africa in Niger (NIGER BIA), the Sahel-Saharan Bank for Investment and Commerce in Niger (NIGER BSIC) and ORABANK Niger, proceeded to the signing of a syndicated loan agreement for raising funds to finance road infrastructure in Niger. This agreement concerns the first phase of a comprehensive fundraising program in the amount of 220,237 million CFA francs.

By this agreement, BOAD and the aforementioned local banks make available to the State of Niger, a total of 128 billion CFA francs including a BOAD direct contribution of 40 billion CFA francs and funding of the banking pool of 88 billion FCFA. This operation is part of a lifting of term funds, entrusted to BOAD in September 2014; fundraiser that the institution has split into two phases. The resources mobilized under this first phase are intended for the financing of development project and asphalting of 70 km of urban roads in Niamey, including phases 2 and 3 corresponding to a linear of 48.200 kilometers. The loan will allow the state of Niger to finance its construction project of the interchange Hamani Diori and modernization of the market area of Katako in Niamey.

Mr Bassary TOURE was keen to stress that the program which includes the infrastructure, “embodies the vision of the Nigerian authorities on the establishment of modern infrastructure needed to open up inside and outside the country, and the improvement of lives of people. »

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Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network