Aviation news from West Africa (for a change)
The West African Development Bank approved the acquisition of shareholdings in Air Côte d’Ivoire and ASKY Airlines
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PRESS RELEASE
The West African Development Bank (BOAD) approved the acquisition of shareholdings in Air Côte d’Ivoire and ASKY Airlines
LOME, Togo, September 25, 2014/
The Board of Directors of the West African Development Bank (BOAD) (http://www.boad.org) held its 94th ordinary meeting on Tuesday 23 September 2014 in Lomé, under the chairmanship of Mr Christian Adovelande, President, and Chairman of the Board of Directors.
Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/boad-1.jpg
Photo 1 :http://www.photos.apo-opa.com/index.php?level=picture&id=1215 (Mr Christian Adovelande, President, and Chairman of the Board of Directors of the BOAD)
Following the adoption of the minutes of its 93rd Board meeting held on 24 June 2014 in Dakar, the Board considered and approved the General Directives for updating the 2014-2018 financial outlook and preparing BOAD’s 2015-2017 programme budget. In addition, the Board approved seven operations involving a total amount of FCFA30.340 billion, bringing the aggregate amount of medium-term and long-term financing to FCFA3,140.3 billion for 721 projects. A new short-term loan of FCFA27 billion brought the cumulative amount of short-term financing to FCFA174.1 billion.
The Board of Directors also approved the acquisition of shareholdings in the following entities:
- Compagnie aérienne régionale, ASKY (regional airline company). Within the context of increasing the company’s share capital to FCFA25 billion, BOAD will increase its shareholding by FCFA3 billion.
- Air Côte d’Ivoire (national airline of Côte d’Ivoire). Within the context of Air Côte d’Ivoire increasing its share capital from FCFA25 billion to FCFA65 billion, BOAD will acquire a shareholding of FCFA2 billion.
