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HomeAfricaMali: WADB to invest 280 billion CFAF in Mali

Mali: WADB to invest 280 billion CFAF in Mali

The West African Development Bank (WADB) is to invest 280 billion CFAF in Mali, the WADB governor, Christian Adovelandé, said on Tuesday.

He was speaking at a meeting with Malian president, Ibrahim Boubacar Kéita and Prime minister Moussa Mara at the end of a two-day visit to Mali.

Official sources said Adovelandé and his hosts discussed cooperation between WADB and Mali adding that their cooperation would be reflected in the new strategic plan that was approved by the sub-regional financial institution.

The WADB governor informed the Malian president about designing of a specific programme that would be adopted for Mali.

President Keita was informed about the signing of a 27 billion CFAF loan agreement for the renovation of the hydroelectric infrastructure at the dams of Selingue in the south and Sotuba in Bamako.

The projects underway in the domain of food security such as the irrigation system in the basin of Bani and Selingue were also discussed.

An official communiqué issued on Tuesday says that the Malian president has given precise details on other projects like the building of the University of Timbuktu, which is underway, and several other projects related to energy and food security.

In another development, he sought the help of WADB to finance the operation and the dredging of the Niger River, which is dying, as it is the main source of energy supply and drinking water for the people.

Mali and WADB have been cooperated for 40 years marked by over 3,120 billion CFAF in investments. 

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