ACCESS TO THE CREDIT LINE
Who is eligible for funding from ‘ROGEAP’?
Primarily, commercial banks, banking-type financial institutions, microfinance institutions and debt funds.
Where can I find funding for ‘ROGEAP’?
Banks, banking-type financial institutions, microfinance institutions and debt funds that have received refinancing under the IDA credit facility granted by the World Bank to BOAD as part of the ‘ROGEAP’.
How to apply for funding from ROGEAP (Key documents)
The Chief Executive of the Financial Institution shall submit a funding application to the Chairman of the BOAD, specifying, in particular, the amount requested and including, in particular:
- articles of association, organisation chart;
- activity reports for the last five financial years;
- financial statements for the last five financial years + reports from the
- Statutory auditors;
- report on the Banking Commission’s latest inspection visit;
- a programme of activities for the next five years, highlighting, in particular, the projected allocation of funds;
- projected operating accounts for the next five financial years, together with the relevant assumptions (business plan, where applicable);
- project pipeline;
- guarantee offered to secure any loan from the BOAD.
BOAD’s intervention criteria
Commercial banks, banking-type financial institutions, microfinance institutions and debt funds in member countries of theWAEMU are eligible in accordance with the following criteria:
- adequate organisational and institutional capacities and a satisfactory governance structure;
- appropriate systems for the assessment, monitoring and management of credit risk;
- compliance with the rules laid down by the Central Bank of West African States (BCEAO) and other applicable regulations;
- implementation of standards to combat money laundering, terrorist financing and corruption;
- compliance with consumer protection laws and regulations in force at that time or at a later date, particularly in the field of financial services.
Targets
These resources are intended for:
- solar energy companies involved in the sale of solar kits or bespoke micro-industrial solutions to finance the purchase or sale of approved equipment;
- or to the end beneficiaries – namely households, schools, health centres, and micro and small businesses – to help them finance the purchase of equipment from businesses.
Warranty
- Promissory notes made payable to BOAD and deposited with the central bank or a bank, representing each instalment of the loan and/or;
- A mortgage on a property and/or any other security deemed satisfactory by the BOAD.