PANAPRESS
Panafrican News Agency
Togo: BIDC board approves several projects
Lomé, Togo (PANA) – The 44th ordinary session of the board of directors of the ECOWAS Investment and Development Bank (BIDC) on Friday approved the financing of several projects for public and private sectors.
A statement issued to the press at the end of proceedings in Lome said that the Board gave its approval for a US$500 million loan to Universal Business System (UBS), the signing of a financing agreement with Feedstock Optimum Oy Ltd in Finland and a participation of Arcode-Europe in the BIDC capital.
About private sector projects, BIDC approved US$30 million for the financing of two power projects in Ghana - a thermal power station at Kpone and the hybrid conversion of another power station for mining companies in Tema.
The public sector will benefit from financing such as rescheduling of Guinea Bissau's debt, additional works for a project to renovate the Kandadji dam in Niger for the amount of US$2.5 million, the renovation of the Parakou-Djougou road in Benin for 4 billion CFAF, as well as building of markets in Savalou and Glazoué, the renovation of the cross-road of Dassa and secondary streets, all in Benin, estimated at 800 million CFAF.
BIDC has the main goal to develop economies in the Economic Community of West African States (ECOWAS) through the financing of projects for both the public and private sectors.
It was set up in 1999 and is based in the Togolese capital, Lomé. As at 31 December 2013 it had a capital of 245 billion CFAF.
-0- PANA FAA/IS/MSA/MA 25April2014
A statement issued to the press at the end of proceedings in Lome said that the Board gave its approval for a US$500 million loan to Universal Business System (UBS), the signing of a financing agreement with Feedstock Optimum Oy Ltd in Finland and a participation of Arcode-Europe in the BIDC capital.
About private sector projects, BIDC approved US$30 million for the financing of two power projects in Ghana - a thermal power station at Kpone and the hybrid conversion of another power station for mining companies in Tema.
The public sector will benefit from financing such as rescheduling of Guinea Bissau's debt, additional works for a project to renovate the Kandadji dam in Niger for the amount of US$2.5 million, the renovation of the Parakou-Djougou road in Benin for 4 billion CFAF, as well as building of markets in Savalou and Glazoué, the renovation of the cross-road of Dassa and secondary streets, all in Benin, estimated at 800 million CFAF.
BIDC has the main goal to develop economies in the Economic Community of West African States (ECOWAS) through the financing of projects for both the public and private sectors.
It was set up in 1999 and is based in the Togolese capital, Lomé. As at 31 December 2013 it had a capital of 245 billion CFAF.
-0- PANA FAA/IS/MSA/MA 25April2014
