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Note de synthèse - Réunion du Conseil du 31 janvier 2018
Board Members noted that the objective of the ALCB Fund is to promote the development of local financial markets and access to long-term financing in local currency and to attract domestic institutional investors. They welcomed, inter alia, the importance given to technical assistance and capacity building of African bond issuers and the indirect contribution of the Fund to job creation, by financing African companies and financial institutions. The Board also welcomed the diversification of the Fund's portfolio, particularly in terms of sectors and geographies, but asked for details of the approach and strategy adopted in this regard. Some Board Members requested updated information on the use of equity in relation to defined limits applicable to financial sector operations; and proposed, in this regard, the establishment of an automatic data refresh system that will provide real-time administration of credit line management. Members also asked for clarification on the measures envisaged in the event of high risks or non-compliance with the Bank's environmental and social requirements. Finally, Board Members invited the Bank to make arrangements to evaluate, separately, the development impact of the Bank's contribution. At the end of the deliberations, the Board approved the proposed loan and adopted Resolution of 31 January 2018.