3 min

On the sidelines of COP 27, BOAD (Banque Ouest Africaine de Développement) and DBSA (Development Bank of Southern Africa) sign a memorandum of understanding to promote inter-regional cooperation.

Sharm El-Sheikh, November 10, 2022Serge EKUE and Patrick DLAMINI, respectively Chairman of the Banque Ouest Africaine de Développement (BOAD) and Chairman of the Banque de Développement d’Afrique Australe (DBSA), signed a Memorandum of Understanding, laying the foundations for broader cooperation between the UEMOA zone and Southern Africa.

The signing of this agreement testifies to BOAD’s willingness to draw on the experience of other multilateral banks on issues relating to inclusion in Africa. Through the signature of such cooperation agreements, BOAD aims to adopt the best international standards as part of the implementation of its expansion strategy. The two institutions have pledged to strengthen their cooperative ties, and to share experience and information.

Commenting on the agreement, Chairman Serge EKUE said, “. BOAD is more than ever aware that the challenges facing Africa require a concerted, multi-faceted approach, involving all public and private development players. We are therefore convinced that the new partnership established between BOAD and DBSA, through this memorandum of understanding, will help to promote sustainable economic growth in the region and improve the living conditions of our populations. “.

As a reminder, thanks to its ” Investment grade “obtained in 2015 and confirmed, over the years, by international rating agencies, launched on the international capital market the first sustainable bond in Africa, for an amount of 492 billion FCFA, with a 12-year maturity and a coupon of 2.75%. As part of its strategy to support regional integration projects, BOAD has also made a total of FCFA 439.4 billion available to the region’s economies in 2021. These sums were used to finance priority sectors : transport and digitization, agriculture and food security, energy and natural resources, education and health, real estate and social housing, in line with the Sustainable Development Goals (SDGs 1-13 and 15).

About BOAD

The Banque Ouest Africaine de Développement (BOAD) is the joint development finance institution of the countries of the West African Monetary Union (WAMU). According to Article 2 of its Articles of Association, the BOAD’s purpose is to “promote the balanced development of member states and achieve economic integration in West Africa” by financing priority development projects. It is accredited with the three climate finance mechanisms (GEF, AF, GCF). Since 2009, BOAD has been an observer at the UNFCCC and has played an active role in discussions concerning the construction of an international architecture for climate finance. Since January 2013, it has been home to the first Regional Collaboration Center (CRC) on the Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects.  It is committed to carbon neutrality by 2023.  WWW.BOAD.ORG   

For further information:

Communication and Public Relations Department

Tel  : + 228 22 23 25 65

Fax : + 228 22 23 24 38

Email : boadsiege@boad.org

About DBSA

A leading development finance institution, the Development Bank of Southern Africa (DBSA) is a public institution, fully controlled by the South African government. Founded in 1983, its mission is to promote economic growth and regional integration by mobilizing financial resources from the national and international private and public sectors to implement sustainable development projects and programs in South Africa, the Southern African Development Community (SADC) and sub-Saharan Africa.  

For further information:

www.dbsa.org. Email: dbsa@dbsa.org 

Press Contacts

Sebolelo Matsoso, sebolelom@dbsa.org;  tel.: +27 076 716 8429

Desiree Mojanaga, desireem@dbsa.org; tel.: +27 083 531 1030