Funding Approvals

During the 2006 financial year, seventeen (17) loans were approved totalling UA 108 374 987 (USD 163 039 330) compared to eight (8) loans amounting to UA 29 747 924 in 2005 representing an increase of 112.5% in number and 264% in value.

Out of the total approved loans, nine (9) worth UA 49 646 445 (USD 74 688 112) were for the private sector (ERIB) while the other eight (8) worth UA 58 728 542 (USD 88 351 218) were for the public sector (ERDF).

It should be recalled that in 2005, out of the total approved loans, five (5) totalling UA 11 840 772 were for the private sector while three (3) amounting to UA 17 907 152 were for the public sector.

Break down of approved loans by operations of EBID from 01/01/2006 to 31/12/2006 (in UA)

OPERATIONS	2006		2005
OPERATIONS	No	Amount	No	Amount
LOAN	12	70 387 868	4	14 480 415
GUARANTEE	5	37 987 119	3	14 917 859
EQUITY PARTICIPATION	-	-	1	349 650
TOTAL	17	108 374 987	8	29 747 924
Loans approved per sector during the period under review

During the period under review, there were two (2) project start ups.

They are the new Praia airport (construction of a VIP lounge and parking lots) and the construction of a polyclinic on the island of Sal, both in the Republic of Cabo Verde.

A total of eight (8) projects were monitored and supervised in 2006 and are listed below:

1. Line of credit to Guinea;

2. Interconnection of the electricity grids of CEB and NEPA (Benin/Togo);

3. The Abidjan-Adzope road rehabilitation project in the Republic of Cote d'Ivoire ;

4. Daoukro Local Agricultural Development project in Republic of Cote d'Ivoire ;

5. Ouelle-Ettroko Local Agricultural Development project in Republic of Cote d’Ivoire ;

6. Network extension project of the Office National des Télécommunications of Burkina Faso (ONATEL) ;

7. The Dakar Port Authority container terminal construction project;

8. The Northern Togo/Northern Benin electricity grid inter-connection project.

The monitoring and supervision of projects made it possible to ascertain the status of execution of the said projects on site and the problems identified were made known to the promoters for appropriate solutions to be found to them.