According to the Central Bank of West African States (BCEAO), excluding charges and taxes, the average rate calculated at the Union level came out at 6.41% in May 2020, against 6.54% in April 2020, a decline of 13.0 basis points (bps).

In its "monthly note of economic conditions" of May, the central bank indicates that according to the nature of the debtor, interest rates have fallen at the level of assistance granted to individual companies, financial customers, state-owned companies and public industrial and commercial establishments (Epic), and private enterprises in the productive sector.

In addition, the Bceao notes that the increase in the cost of credit noted at the level of States and similar organizations, individuals, insurance and pension funds, as well as NGOs, friendships, trade unions, and cooperatives and village groups has moderated the trend.

"The analysis following the purpose of the credit indicates that the decline in lending rates is localized at the level of cash and housing loans, mitigated by the increase in the cost of export, consumer and equipment advances," finally, notes the central institution.