The West African Development Bank (BOAD) obtains a contribution of 50 million US dollars, or 32.797 billion CFA francs from the Arab Bank for Economic Development in Africa (BADEA). The grant agreement was signed on Monday, August 30, 2021 by videoconference.

In the context of the financing of short-term operations in the member States of the West African Economic and Monetary Union (WAEMU), BADEA is making available to BOAD, a credit of 32.797 billion CFA francs. In a press release, BOAD said the new credit agreement is the fourth between the two institutions. Indeed, the banking institution benefited, in 2013 and 2018, from three loans respectively amounting to 10, 30 and 15 million US dollars, fully used. These funds have been used to refinance several private sector projects, short-term operations and to finance imports from Arab countries. During the signing of the agreement, Serge EKUE, President of BOAD assured his counterpart, Dr Sidi Ould TAH, Director General of BADEA that the institution he heads will implement the said agreement on time and in compliance with contractual provisions. He did not fail to salute the excellent cooperation relations between BOAD and BADEA.