Ivorian President Alassane Ouattara, and Chairman in office of the West African Economic and Monetary Union, welcomes the President of Togo Faure Gnassingbe during the summit of the Heads of state from the eight-nation West African Economic and Monetary Union (UEMOA) in Abidjan, Ivory Coast July 12, 2019. REUTERS/Luc Gnago

The members of the West African monetary union UEMOA plan to raise 846 billion CFA francs ($1.40 billion) on the regional debt market in response to the coronavirus crisis, lead manager UMOA-Titres said on Thursday.

The issue of the so-called COVID-19 social coupons will begin next Monday, UMOA-Titres said in an emailed announcement, adding that the instrument would benefit from access to a special refinancing office at the regional central bank.

UEMOA’s members are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.

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