1 min

BOAD receives support from the WAMU Council of Ministers and BADEA for the implementation of its capital increase project

Dakar, June 24, 2022. Messrs Sani YAYA, Minister of Economy and Finance of the Togolese Republic, current Chairman of the WAEMU Council of Ministers, Serge EKUE, President of the West African Development Bank (BOAD) and Sidi Ould Tah, Managing Director of the Arab Bank for Economic Development in Africa (BADEA), signed a tripartite declaration on the sidelines of the ordinary session of the WAEMU Council of Ministers. Under the terms of this declaration, the three regional entities are committed to the success of BOAD’s capital increase project.

BADEA, which has a long-standing commitment to financing economic development in the WAEMU and is a strategic partner of BOAD, is keen to support the Bank’s capital increase project. To this end, the institution is ready to give sympathetic consideration to any concessional loan requests submitted by WAEMU member states. This loan, in line with BOAD’s recommendations, will be used to finance the full amount of the capital subject to call as part of its capital increase project.

As a reminder, the BOAD has adopted a new 2021-2025 strategic plan, the DJOLIBA plan, which aims to increase the financing of development projects by 50%, particularly those linked to the ecological transition (i.e. around 6 billion US$ in new loans). The planned capital increase of around 1.5 billion US$ will enable the institution to meet the growing needs of the Union’s populations in terms of transport, energy, housing, agriculture, education and health infrastructures.

For further information :

 Communication and Public Relations Department

Tel : + 228 22 23 25 65

Fax : + 228 22 23 24 38

Email : boadsiege@boad.org