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Bank: The BIDC mobilizes nearly €1800 million in 2023

22/03/2024
Categories: Economy/Forex

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The 22nd ordinary session of the Board of Governors of the Investment and Development Bank of the Economic Community of West African States (ECOWAS), the BIDC recorded a major event. This involves the mobilization of a sum of 1797.4 million euros, about 1,180 billion CFA francs, for the 2023 financial year

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The chairman of the bank's board of directors, Dr. George Agyekum Donkor said on Thursday, March 21, 2024, during the ordinary session coupled with the 12th Extraordinary General Assembly of the Board. The Bank “has already exceeded its 2025 target quite early”, said Dr. Agyekum Donkor, in the presence of the Minister of Economy, Planning and Development, Kaba Nialé, outgoing chair of the

BIDC Board of Governors.

This growth achieved at the midpoint of the 2021-2025 strategic plan underlines the Bank's strong financial performance and the effective implementation of strategic objectives aimed at strengthening its financial stability and operational capacity, noted the Chairman of the Bank's Board of Directors.

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The BIDC had disbursed a total of 859.22 million US dollars in the medium term, representing an implementation rate of 69.72% compared to the objectives. This performance was largely attributed to a marked increase in commitments in private sector operations.

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