(Ecofin Agency) - These funds are expected to support development projects in the CEMAC region. At the end of December 2024, the institution approved CFA125 billion in funding to boost development in the six member countries.

The Development Bank of Central African States (BDEAC) plans to raise CFA200 billion (about $311 million) in negotiable debt securities between 2025 and 2027. The funds will be raised through the Beac market.

This funding, approved during a board meeting on December 23, 2024, is part of the Azobé Strategic Plan for 2025-2027. The latter aims to increase funding for development projects across the CEMAC region, requiring significant investment to support its goals.

Through this initiative, BDEAC will finance projects in sectors such as agro-industry, tourism, and finance to help boost regional development.

Although the bank is preparing to pursue this new funding target, it has yet to complete the mobilization of CFA100 billion planned for 2024. So far, only CFA50 billion has been raised through a multi-tranche bond issuance launched in March 2024. Challenges in securing the full amount arose due to tightened monetary policies implemented by the CEMAC central bank. The subscription period for this bond issuance had to be extended by a month to reach the partial target.

At the end of 2024, the BDEAC board approved financing of CFA125 billion to support development initiatives across the six CEMAC countries.