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BOAD and BPI France formalize their cooperation by signing a framework agreement

Lomé, September 14, 2021. Serge EKUE, President of the West African Development Bank (BOAD) and Pedro NOVO, Executive Export Director of the French Public Investment Bank (BPI France),  signed a cooperation agreement aimed at developing activities and jointly financing projects, particularly in the small and medium-sized enterprise (SME) sector, covering issues such as start-up, innovation, development, investment and internationalization within the WAEMU zone.

This partnership is part of BOAD’s commitment to SMEs in the West African sub-region, and will help facilitate their access to financing, particularly medium and long-term credit. Indeed, since the start of the Bank’s operations, just under €800 million (782) has been dedicated to SMEs in the form of refinancing lines granted to local banks and microfinance institutions.

This funding has created jobs for young people and women. With the Djoliba Strategic Plan for the five-year period 2021-2025, BOAD has set itself the target of contributing to the creation of 245 000 additional jobs, including around 17 000 in the MSME segment.

Through this partnership, the two institutions are committed to strengthening business relations between European and WAEMU companies, boosting the co-financing of projects and dedicated programs, and reinforcing mutual technical assistance.


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