BDEAC unblocks loans of 151 billion CFA francs to Central African countries

Meeting Friday, April 19 at the Sipopo Conference Center in Malabo (Equatorial Guinea), the Board of Directors of the Bank of Development of Central African States (BDEAC) has granted loans for a total amount of 151 billion CFA francs (€ 231 million) to six countries in the region.

The projects to be funded come from different sectors. Among other things, mention is made of the construction of a new passenger terminal at Bata airport in Equatorial Guinea for financing 80 billion FCFA (120 million euros), and the construction of 1,000 social housing units in Gabon. for 45 billion FCFA (68 million euros).

Created in 1975, BDEAC is the development institution of the six member states of the Central African Economic and Monetary Community (Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, Chad).

At the beginning of the year, the bank undertook a series of reforms aimed at providing it with a stricter regulatory framework, with the ambition of being able to raise funds on international markets. These reforms come after the economic crisis in the region with the fall in oil prices in 2014.

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