WADB increases stakes in two airlines
The West African Development Bank's board of directors of recently held its 94th ordinary meeting in Lomé (Togo). It approved seven operations worth a total of XOF 30.340 billion (EUR46.2 million), bringing the aggregate amount of medium-term and long-term financing to XOF 3,140.3 billion (EUR 4.7 billion) for 721 projects.
The board also approved the acquisition of share in Compagnie aérienne régionale, Asky, a regional airline company. Within the context of boosting the company's share capital to XOF 25 billion (EUR 38 million), the bank will increase its shareholding by XOF 3 billion (EUR 4.5 million). The board also agreed to step up its stake in Air Côte d'Ivoire, the national airline of Côte d'Ivoire. That carrier is raising its share capital from XOF 25 billion to XOF 65 billion (EUR 99 million), and the bank will acquire a shareholding of XOF 2 billion (EUR3 million).