A meeting between the Arab Bank for Economic Development in Africa (BADEA), the West African Development Bank (BOAD) and the States of the West African Economic and Monetary Union (UEMOA) zone, has been held since 28 July 2022, in Lomé. Representatives of these institutions reflect on BOAD’s capital increase project. The conclusions will be known, today, at the end of the work.
For BOAD, which finances a quarter of the development projects of WAEMU member states with equity, deploying Djoliba requires increasing the capital by 1.5 billion Euros. With the aim of combining efforts to this end, a high-level meeting of the actors involved has been held since Thursday, July 28, 2022, in Lomé. It brings together representatives of the Arab Bank for Economic Development in Africa (BADEA), the West African Development Bank (BOAD) and the States of the West African Economic and Monetary Union (UEMOA). It is, according to BOAD officials, to quickly complete this fundraising operation, necessary to allow this bank to continue to work for the financing of the economies of its member states.
Indeed, for 49 years, the West African Development Bank (BOAD) has supported the development and integration efforts of member states of the West African Economic and Monetary Union (UEMOA). These countries face major challenges that make life difficult for populations: demographic shock, food insecurity, chronic under-equipment in health, education, housing, infrastructure, etc. Together with the public administrations and the private sector of the States, BOAD provides appropriate solutions to improve the living conditions of the populations.
It is in this perspective that the new Djoliba 2021-2025 Strategic Plan is in line, by which BOAD aims to inject, each year, 1 billion Euros into the economies of the Union, in the form of new financing in the field of infrastructure (transport, ICT and digitalization), housing, energy, development of human capital (education and health), development of agriculture and agri-food. The objective is to meet the development challenges of the Member States.
Régine STUDENT
