The Arab Bank for Economic Development in Africa and the Central African States Development Bank signed on Tuesday, 13 October, in Bangkok a loan of 30 million euros, or about 19.68 billion CFA francs, for the private sector and in particular SMEs in CEMAC.
BDEAC is to use this credit line to strengthen its financing to businesses. It thus acts as an intermediary between BADEA and private-sector projects in the subregion.
The signing formalises a transaction that BDEAC's board of directors had approved on 12 June. At that stage, the regional bank had presented the 30 million-euro line as a means of increasing its financial capacity and supporting development financing in Central Africa.
The scope covers Cameroon, the Central African Republic, the Republic of the Congo, Gabon, Equatorial Guinea and Chad. The conversion of the loan into CFA francs rests on the fixed parity of 655.957 CFA francs to one euro.
The agreement was signed by Abdullah Almusabeeh, president of BADEA, and Dieudonné Evou Mekou, president of BDEAC. The latter links the financing to its Azobé strategic plan 2023-2027, which aims in particular at developing the private sector and regional integration.