BDEAC strengthens cooperation with strategic partners in Near and Middle East

As part of the mobilisation of strategic partners of the Central African States Development Bank (BDEAC) in order to finance its Strategic Plan 2017-2022, the President Fortunato Ofa Mbo Nchama has made an important working visit to Saudi Arabia.

Ofa Mbo Nchama was received by the president of the Islamic Development bank (IsDB), Bandar Al Hijjar, with whom discussions focussed on strengthening cooperation between BDEAC and IsDB, above all in financing infrastructure and integration projects for the economies of the Economic and Monetary Community of Central Africa (CEMAC), supporting the private sector through adapted financial mechanisms and commercial financing, among others.

The president of BDEAC also met the Director of the Arab Gulf Program for Development (AGFUD), Nasser B. Al-Kahtini, and during the conversations they spoke about the implementation of a programme to support the most vulnerable populations, through the creation of micro-finance institutions in the six CEMAC countries, Equatorial Guinea, Cameroon, Gabon, Chad, Congo and Central African Republic.

This important project will be financed by AGFUD, BDEAC and a social investor. The start of the activities for the institution will begin during 2019 for small investors, as part of a reduction in poverty.

Finally Ofa Mbo Nchama met the Vice-President of the Saudi Development Fund (SDF), Youssouf Ben Ibrahim Abdallah al Bassam, and their conversations focussed on areas of cooperation between the two institutions, giving priority to the financing of national and regional projects.

Source: Equatorial Guinea Press and Information Office

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