The West African Development Bank (BOAD) announced on July 13, 2023, the signing of a credit insurance policy worth 278 billion FCFA (424 million EUR). This agreement represents 11% of its overall loan portfolio with a pool of nine leading private insurers based in Europe

Like the major financial institutions around the world, BOAD now insures part of its portfolio using the credit insurance market. This major transaction, according to a press release, comes 18 months after BOAD signed its first individual insurance policies. It marks a new important step in the deployment of the “distribute to distribute” method adopted by the Bank as part of the implementation of its Djoliba Strategic Plan

The credit insurance policy aims to raise the average rating of its overall loan portfolio with the aim of positively influencing its own investment grade. By benefiting from the signature of insurers rated from 'A-' to 'AA-', this portfolio insurance policy also testifies to BOAD's ambition to sustainably use the credit insurance market as a tool for distributing balance sheet exposures, to strengthen its financing capacity for the benefit of UEMOA member states