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EIB lends $85m to BOAD.

The European Investment Bank (EIB) has approved a loan of E60m (about $85m) to the West African Development Bank (BOAD). The loan is said to be for "backing the operations carried out by BOAD for the private and public sectors in the sub-region".

The EIB loan wi l l par t icu la rly help support regional projects to strengthen West Africa's regional integration, particularly small projects linked to the environment or renewable energy sources. The EIB deputy-governor responsible for the operations in sub-Saharan Africa, the Caribbean and the Pacific, Plutarchos Sakellaris, stressed that the loan "will help finance essential projects for economic growth in West Africa and improve several technical operations implemented in specialised sectors".

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Publication:African Banker
Date:Jul 30, 2011
Words:128
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