Following its board meeting held on Friday, March 27, in Dakar, the West African Development Bank (BOAD), announced that it had secured a credit line of 200 million euros, approximately $230 million, from Sumitomo Mitsui Banking Corporation, one of Japan's three largest banks.

Sumitomo Mitsui Banking Corporation is renewing its financing to the BOAD through a credit line intended for financing agricultural campaigns and hydrocarbon imports in WAEMU. These funds are designated to finance two types of essential needs for the zone's economies. On one hand, agricultural campaigns: purchases of fertilizers and seeds, marketing of cash crops such as cotton, cocoa, or cashew nuts. On the other hand, the import and distribution of oil and gas in the Union's member countries. These needs are particularly acute in the sub-region.