BDEAC will increase its capital to 1200 billion FCFA

The Bank for the development of Central Africa States (BDEAC) has just announced that it will soon bring its capital from 250 billion CFA FRANCS to 1200 billion F CFA.

According to a release issued by the institution, this capital increase should enable BDEAC to support projects initiated by Member States, particularly in the areas of agri-food, wood processing and studies aimed at the restructuring of the swine and poultry sectors.

"The needs are enormous, we should have to cover them in terms of funding to assist States in their development efforts," said the president of BDEAC, Michaël Adandé, quoted by the Agency PANA.

Mr. Adandé also reiterated the predisposition of the Bank to participate in the reconstruction of the Central African Republic, a country torn by inter religious conflict.

"The Bank does not wait. Recently we have signed agreements for projects in Central African Republic (CAR), with accompaniment by the France. We also have studies in areas that are a priority to the Bank, including energy, roads and railways," he said.

BDEAC comprises six countries: Cameroon, the Central African Republic, Congo-Brazzaville, Gabon, Equatorial Guinea and Chad.