BDEAC approves budget for 2018

The Central African States Development Bank (BDEAC), with its headquarters in Brazzaville, whose president is Fortunato Mbo Nchama, held its first board meeting of 2018, which brought together representatives from CEMAC countries, Morocco, as a new shareholder since 2017, and France.

The budget for this year was passed: 29 thousand million in income and 25 thousand million in costs, thus setting an increase in income of 9% and a reduction in costs of 7%, with respect to the budget for 2017.

Equally, the financing of various projects was passed for countries in the subregion, for a total of 33,125 million Franco CFA.

Of the projects to be financed, 2,900,000,000 Franco CFA have been earmarked for the Republic of Equatorial Guinea for the construction of a new hospital centre in Bata, a complementary credit for for the first 3,000 million France CFA, thus making an overall cost of 6,000 France CFA.

The main aims of the BDEAC for 2018 are support for economic diversification, the funding of the main integrated programmes, and support for the private sector, especially for small and medium-sized businesses, which are reflected in the 2017-2022 strategic plan.

Source: Official Web Page of the Government of the Republic of Equatorial Guinea

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