At the end of its board of directors held on November 27, the Development Bank of Central African States (BDEAC) approved the financing of the six projects and the bond issuance program by public call to the saving.
The commitment of the community financial institution to the private sector brings the overall volume of investments for the year 2020 to 186 billion FCFA, against 271 billion in 2019.
According to the president of the BDEAC, Fortunato-Ofa Mbo Nchama, this drop in the level of the Bank’s commitments is due to the health crisis of Covid-19. But by stepping up its interventions in the private sector, the financial institution hopes to boost household consumption by maintaining or creating jobs.
To ensure the implementation of its strategic development plan 2020-2022, the institution intends to mobilize 300 billion CFA francs for the financing of projects with high socio-economic impact. It will submit the request for authorization of bond issues by public offering to the general meeting of shareholders. If the latter authorizes it, the fundraising operation will be carried out on the sub-regional market in local currency.
But one of the decisions expected from the board of directors was the adoption of the 2021 budget, which amounts to 43 billion FCFA. “The priorities of the budget are the continued financing of the economies of the sub-region, especially as the requests for financing are increasing exponentially. The main objective of this budget is to continue to support both the private sector and the public in the financing of economies, ”said Fortunato-Ofa Mbo Nchama, adding that BDEAC will play a central role in financing. integrative projects presented at the recent donor round table in Paris, France.
Note that due to the persistence of the coronavirus pandemic (Covid-19), the board of directors was held by videoconference, under the chairmanship of the Minister of Finance and Budget of the Central African Republic, Henri-Marie Dondra.
