Le June 5, 2024, a director of the Arab Bank for Economic Development in Africa (BADEA) announced that the Arab financial institution has injected 500 million dollars into the capital of the West Bank African Development (BOAD )

La BADEA a déjà fait son entrée dans le capital de la BOAD in December 2023, with a initial contribution of 30 million dollars. This entry opened the second phase of the capital increase project for the West African regional bank, after the closure of the first phase in December 2022 for an amount of 554.382 billion CFA francs (about 910 million dollars). According to its managing director Sidi Ould Tah, the bank has “loaned 400 million dollars to the eight member states of the West African Monetary Union (WAMU) who will use these funds to contribute to the capital of their joint development finance institution”. According to the latter, the institution has also invested an additional $100 million directly into BOAD the through a hybrid debt instrument.