BOAD directors approve € 19.65 million in funding for the Burkina Faso National Electricity Company

These funds, approved at the 109th Ordinary Session of the Board of Directors of the West African Development Bank (BOAD), will be used for the rehabilitation of energy distribution works and the development of commercial efficiency of the Sonabel

The board of directors of the West African Development Bank ( BOAD ) authorized, on June 27, 2018, a financing of 12.89 billion F CFA (approximately EUR 19.65 million) for the project for the rehabilitation of power distribution works and the development of the commercial efficiency of the National Electricity Company of Burkina Faso ( Sonabel ). [19659004] Sonabel is a public corporation, exclusively owned by the State, which produces, imports, transports and distributes electrical energy throughout the national territory of Burkina Faso.

During the 109th Ordinary Session BOAD's board of directors, held last Wednesday in Lomé, the administrators have approved 11 new operations for a cumulative amount of 111.8 billion FCFA (about 170.4 million euros) in favor of the economies of the West African Economic and Monetary Union (UEMOA)

Among these commitments, we find: seven medium and long term loans for a total amount of 90.8 billion FCFA, a refinancing line for an amount of 10 billion FCFA, a short-term loan of CFAF 5 billion and two equity investments for CFAF 6 billion