A press release from the West African Development Bank (BOAD) published on Sunday mentions the entry of the Arab Bank for Economic Development in Africa (BADEA) into its capital.

BADEA's entry into the Bank's capital as a category B shareholder (non-regional shareholders) is part of this second phase, and concerns an amount of 30 million US dollars, or 18.4794 billion FCFA. This participation is equivalent to 1.20% of BOAD's subscribed share capital style="font-family: "Bookman Old Style”, "serif">, allowing this first-class institution to obtain a seat on its Board of Administration. The two institutions are now entering a new era of their long cooperation, which has so far been marked by the provision by BADEA of resources on preferential terms, and by the co-financing of numerous infrastructure projects in the UEMOA countries, but also by the grant to