Benin: BOAD lends 10 billion CFA to SGB bank of Bénin

17 Septembre 2017

COTONOU, Bénin, September 17 (Infosplusgabon) - The West African Development Bank (BOAD) will lend 10 billion CFA Francs to Société générale Bank of Bénin, official sources said Sunday in the country's capital, Cotonou.

The loan is part of a programme initiated by the BOAD and its German partner, Kfw, with the aim of supporting small and medium size enterprises (SMEs) through commercial banks. It will enable the bank to finance solid and sustainable investment projects for SMEs so that they can generate more jobs and wealth.

Found on 14 November 1973, BOAD is a specialized institution of the eight member countries of the West African Economic and Monetary Union (WAEMU) -- Benin, Burkina Faso, Cote d’Ivoire, Bissau-Guinea, Mali, Niger, Senegal and Togo.

It seeks to eliminate poverty, promote balanced development of the member states and to achieve regional integration.

FIN/INFOSPLUSGABON/AJO/GABON 2017

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