BCEAO

CENTRAL BANK OF WEST AFRICAN STATES

NOTICE NO. 003-08-2021 ON THE OPENING OF A SPECIAL TWELVE-MONTH REFINANCING WINDOW FOR SUPPORT AND RESILIENCE BONDS ISSUED BY UEMOA MEMBER STATES

To strengthen the ongoing economic recovery and consolidate it on a solid basis, UEMOA member states have decided to mobilize resources in the regional financial market by issuing bonds named "Support and Resilience Bonds" (BSR), in order to finance operations planned in their 2021 budgets.

To ensure the best financial conditions for these issuances, the Central Bank has decided to open a special refinancing window with a twelve-month maturity, named "Support and Resilience Window". The creation of this new window aims to support the states by ensuring the liquidity of these securities. On this window, BSRs may be refinanced at the minimum bid rate for the Central Bank's auctions, which is currently 2.00%.

The special window will remain open for the duration of the Support and Resilience Bonds. Furthermore, BSRs are also eligible on the Central Bank's ordinary refinancing windows. The refinancing of BSRs on the Support and Resilience Window will be carried out, upon request by banks, within 30 days from their issuance date.

Through this decision, the Central Bank intends to strengthen its support for states in mobilizing stable and low-cost financial resources to bolster economic recovery within the UEMOA. It reaffirms in this regard its commitment to continuing, within the framework of its mandate, its efforts to support macroeconomic stability in the Union, in the context of the Covid-19 pandemic.

Done at Dakar, August 12, 2021

CENTRAL BANK OF WEST AFRICAN STATES

Avenue Abdoulaye FADIGA BP 3108 - Dakar - Senegal Tel. (221) 33 839 05 00 / Fax. (221) 33 823 93 35 courrier.bceao@bceao.int - www.bceao.int