The Board of Directors of the West African Development Bank (BOAD) met, in semi-presential mode, for its ^136th ordinary session, under the chairmanship of Mr. Serge EKUE, Chairman of the Board of Directors, President of BOAD.

After approving the minutes of the 135th meeting, held on 8 May in Lomé (Togo), the Council examined the status of recovery of BOAD's loan claims as at 31 May 2023, and the concept note relating to the structuring of a Study Fund to finance feasibility studies for climate projects in the member countries of UEMOA. The meeting also took note of the mid-term achievements of the financial forecasts for the 2023 financial year, the summary of the process evaluation of the Special Food Security Programme (PSSA) and, the report on the execution of the first operation of the BOAD Debt Securitization Program

In addition, the administrators approved 11 new operations for a total amount of 182.32 billion FCFA, bringing to 7 835.02 billion FCFA, the total commitments (all operations combined) of BOAD, since the start of its operational activities, in 1976.

The loans approved relate to the partial financing of projects, as follows:

Establishment of refinancing lines for the National Agricultural Development Bank (BNDA) in Mali. The purpose of the project is to set up refinancing lines for BNDA to support Micro, Small and Medium-sized Enterprises (MSMEs) and develop off-grid solar electrification. Amount of the operation: 15 billion FCFA

BOAD takes a stake in the capital of the Infrastructure Acceleration Fund (IAF). The objectives of this equity investment are, among others, to contribute to reducing the infrastructure deficit and carbon emissions on the African continent while having a positive impact on development in the communities and countries where the Fund operates. Amount of the operation: 6.12 billion FCFA

Development of agricultural infrastructure and de-isolation of the lower and middle Ouémé Valley (PDIAD — BMVO) in the Republic of Benin. The objective of the project is to contribute to improving the living conditions of targeted populations in the Ouémé Valley. Amount of the operation: 28 billion FCFA

Short-term loan in favor of Ivory Cocoa Products (ICP) SA for the partial financing of the 2023-2024 cocoa campaign in Côte d'Ivoire. This competition will finance the purchase and transformation of around 10,000 tons of cocoa beans into a semi-finished product. Amount of the operation: 10 billion FCFA

Short-term loan in favor of Compagnie Malienne pour le Dévelopment des Textiles (CMDT) SA, for the partial financing of the 2022—23 cotton campaign in Mali. This competition will contribute to the transformation of approximately 526,000 tonnes of seed cotton into fibre cotton (220,695 tonnes) for the 2022—23 season. Amount of the operation: 5 billion FCFA

Support for the digitization of public finance management processes in Burkina Faso. The overall objective of the project is to dematerialize management procedures and administrative formalities, to ensure good governance and transparency in the management of public finances. Amount of the operation: 19 billion FCFA

Development of urban roads and construction of various networks in District IV of the Diamniadio Urban Pole, in the Republic of Senegal. The project will relieve congestion in the city of Dakar and provide populations with a better living environment. The urban hub of Diamniadio will include ministries, international organizations, health centers, schools and cultural centers. The program will make the locality liveable, accessible and attractive. Amount of the operation: 30 billion FCFA

Short-term loan in favour of the Société Nationale Burkinabè d'Hydrocarbures (SONABHY) for the partial financing of its operating needs for the import and marketing of hydrocarbons in Burkina Faso. This competition will contribute to the strengthening of SONABHY's short-term resources in connection with the import of approximately 25,000 M3 of hydrocarbons. Amount of the operation: 20 billion FCFA

Development of the Medical and Health Research Center and strengthening of tertiary reference health infrastructures in Niamey, Niger. The objective of the project is to contribute to improving the health status of populations through expertise in health research and the provision of quality care. Amount of the operation: 20 billion FCFA

Construction and equipment of school infrastructure in Niger. This competition will contribute to the elimination of hut classrooms in Niger. It will also make it possible to provide good learning conditions for approximately 55,200 disadvantaged students per year, and reduce the loss of school time in the institutions concerned. Amount of the operation:

Construction and operation of a 4-star luxury hotel under the “Golden Tulip AKWABA” brand in Biétry Abidjan, by the Société de Patrimoine et de Gestion (SPG) AKWABA SA in Côte d'Ivoire. This project will strengthen the hotel offer in Côte d'Ivoire by installing an additional capacity of 205 rooms in the reception area classified as 4 and 5 stars. Amount of the operation: 9.2 billion FCFA

In closing the work, President Serge EKUE thanked, on behalf of the Board of Directors, the Ivorian authorities for the resources implemented, for the holding of this session, in the best conditions.