Development Bank of Central African States (BDEAC)
9.8 billion CFA francs of profits made in 2020, that is 153% of budget forecasts
09 Jun, 2021
The Board of Directors of the Development Bank of Central African States (BDEAC) met on Wednesday, June 9, 2021, by videoconference, at the Bank's headquarters in Brazzaville (Republic of Congo). The meeting was chaired by Mr. Ludovic Ngatsé, Minister Delegate in charge of Budget, representing Mr. Rigobert Roger Andely, Minister of Finance, Budget and Public Portfolio.
During this meeting, the Board of Directors examined, among other items on the agenda, the Annual Activity Report for the year 2020. On this point, the Board welcomed the good performance of BDEAC's activities in 2020, despite a difficult health context, marked by COVID-19. In particular, the Board noted a strong increase in financing requests (63 in 2020, compared to 18 four years ago in 2017). Nineteen (19) financings were approved for an amount of 186 billion CFA francs, which allowed the creation of 4,600 jobs and impacted 24 million people through the financing of the fight against COVID-19.
In addition, BDEAC disbursed in 2020 an amount of CFA F 118 billion, in favor of economic operators of the Economic and Monetary Community of Central Africa (CEMAC), against CFA F 49 billion disbursed in 2019. The directors were also pleased with the volume of resources mobilized by the Bank in 2020 (CFAF 249 billion), as well as the good quality of the portfolio, of which performing loans represent 96.8%.)
Examining the closed accounts for the 2020 financial year, the Board of Directors immediately noted the good performance achieved by the institution, despite the context marked by the COVID-19 pandemic. Indeed, the activities deployed in 2020 result in a net profit of 9.8 billion CFA francs, i.e. 153% of the budget estimates.
With regard to financing files for the public and private sectors, the Board examined and approved ten (10) financing proposals, for an amount of more than 182 billion CFA francs. This new financing brings to an unprecedented CFAF 733 billion the total commitments of BDEAC since the implementation of the 2017-2022 Strategic Plan, whose initial target was CFAF 500 billion. This reflects a historical performance that largely exceeds forecasts.
The new commitments made concern both the public and private sectors, covering areas as varied as transport; energy, agriculture and agro-industry; industry; health; education; services and urban tourism; water and sanitation; and finance. Overall, the implementation of these projects will have numerous socio-economic impacts in the sub-region, such as improving the living conditions of the population; reducing unemployment through job creation; and contributing to the growth of the gross domestic product (GDP) of the States.
These projects are fully consistent with the National Development Plans (NDP) of CEMAC countries and the BDEAC Strategic Plan 2017-2022. The Bank is thus affirming its willingness to assist States in the process of structural transformation of their economies and in the development of infrastructure that will enable them to accelerate the physical and commercial integration of the subregion.
