1) ECOWAS Bank for Investment and Development (EBID):
BADEA and ECOWAS Bank for Investment and Development signed a Line of Credit of US $ 45 million - as part of BADEA’s program for financing Foreign Trade operations - The Line of Credit will contribute to finance trade operations between Arab and African countries eligible for BADEA’s fund for the benefit of 15 Member States of the Economic Community of West African States (ECOWAS), to guarantee a regular flows of goods and services that are vital to the development of their economic growth, such as energy, industry and agricultural sectors, which will contribute to sustainable development, improve living conditions and alleviate poverty in Sub-Sahara African countries.
As for the second line, BADEA also signed a Line of Credit of amount of US $ 15 million, in the framework of its private sector program to contribute to the reduction of unemployment and the improvement of the living conditions of the populations in the countries of ECOWAS.
(2) Coris Bank International - Burkina Faso:
At the same ceremony, BADEA and Coris International Bank signed a Line of Credit of an amount of US $ 25 million. This operation will contribute to the promotion and development of trade between economic operators in Burkina Faso and Arab countries.
This credit line is part of the objectives of the BADEA and will allow Coris Bank International to have new resources for promotion of trade between economic operators in Burkina Faso and of the Arab States.
The above-mentioned agreements were signed by H.E. Dr. Sidi Ould TAH, Director General BADEA and by H.E. Mr. Bashir Mamman IFO, President of ECOWAS Bank for Investment and Development and by H.E. Mr. Idrissa NASSA, President and CEO of the Coris Bank International.
