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BOAD receives US$ 50 million (CFAF 32.797 billion) from the Arab Bank for Economic Development in Africa (BADEA)

31082021Lomé, August 30, 2021. Mr. Serge EKUE, President of the West African Development Bank (BOAD), and Dr. Sidi Ould TAH, Managing Director of the Arab Bank for Economic Development in Africa (BADEA), have signed, by videoconference, an agreement by which BADEA makes available to BOAD, a credit of 50 million dollars, US or 32.797 billion F CFA intended for the financing of short-term operations in the member states of the WAEMU.
This new credit agreement is the fourth between the two institutions. In 2013 and again in 2018, BOAD benefited from three loans of US$10 million, US$30 million and US$15 million respectively, which were fully drawn down and used to refinance several private sector projects, short-term operations and the financing of imports from Arab countries.

While praising the excellent cooperative relations between BOAD and BADEA, Mr Serge EKUE assures that the institution he heads will implement this agreement on schedule and in compliance with the contractual provisions.

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