The West African Development Bank (BOAD) signed a loan agreement of 50 billion CFA francs (approximately 76.22 million euros) with the Nigerien authorities on Wednesday, June 18 in Niamey, in order to strengthen the financial stability of the Nigerien Bank (SONIBANK), the country’s leading public bank.
According to both parties, this financing will notably help restore regulatory and prudential ratios, ensure the normal functioning of branches, facilitate access to refinancing and the interbank market, and gradually revive financing activities for the national economy. It will also contribute to restoring depositor confidence, said Hamidine Aboubacar, General Manager of SONIBANK.
Granted on June 13 in Lomé, this loan is part of the recovery efforts initiated by the authorities to prevent the bank from sinking. According to the Prime Minister and Minister of Economy and Finance, Ali Mahaman Lamine Zeine, this intervention aims to preserve a key player in financing the Nigerien economy, especially in productive sectors, imports, exports, and supporting households.
In addition to this agreement, another file related to the purchase of securities from a local bank has also been finalized.
