Members of the West African Monetary Union (UEMOA) have announced plans to issue $1.4 billion on the regional debt market in response to the COVID-19 crisis.
UEMOA’s members are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.
In late March this year, the African Development Bank (AfDB) sold a three-year $3 billion bond as part of its efforts to offer financial supports to countries and businesses fighting against the global COVID-19 pandemic.
The bond, a coupon rate of 0.75%, got orders in excess of $4.6 billion. It was later listed on the London Stock Exchange (LSE).