Dakar, April 29 (APS) – The National Bank for Economic Development (BNDE) of Senegal declares having obtained a loan of 46 billion CFA francs from the South African Development Bank (DBSA).
”The National Bank for Economic Development is honored to be one of the first banking establishments in the sub-region to mobilize a financing line from the South African Development Bank,” affirms the BNDE in a press release received by the APS.
She believes that ”this South-South financial partnership, amounting to 70 million euros, or 46 billion CFA francs, is a Source of satisfaction, because [elle doit lui] enable it to strengthen its fundamental mission of financing the Senegalese economy.
The Senegalese financial institution specifies that the financing obtained from the DBSA will above all allow it to finance “structuring projects” in the local economy.
”This resource mobilized from a leading financial partner will strengthen the financing of its historic clientele, SMEs/SMIs, but also and above all the consolidation of its quality as a development bank,” adds the BNDE.
She believes that the DBSA granted her this loan for a period of seven years because of the ”solidity [de ses] financial and prudential indicators”.
BNDE affirms that the South African loan will be repaid at a ”competitive rate, taking into account current international rate conditions”.
The funding received from the DBSA ” comes at the right time, after that of the shareholders, in particular the State of Senegal, which increased the capital of the [banque] from 11 to 52 billion CFA francs, an unprecedented increase of 41 billion,” reports the National Bank for Economic Development.
She reports benefiting from this financing in a context of increasing the minimum share capital of banks from 10 to 20 billion CFA francs.
”BNDE intends to consolidate its assets and engage in a growth dynamic. This constant commitment from top management and all staff is relentless. Added to this is consideration of current concerns, in particular compliance with requirements in terms of social and environmental risks,” explains the press release.
The BNDE recalls celebrating its 10th anniversary this year.
ESF/ASG
