BOAD capital increase project : To meet the growing needs of populations

The Minister of Economy and Finance of the Togolese Republic, Sani Yaya, President in office of the Council of Ministers of UEMOA, President of the West African Development Bank (Body), Serge Ekue and the Managing Director of the Arab Bank for Economic Development in Africa (Bade), Sidi OldTah, signed a tripartite declaration. A signature that will allow the “Djoliba” plan to take shape. It was on the sidelines of the ordinary session of the Council of Ministers of the West African Monetary Union (Umoa), held in Dakar, Senegal.

This signature comes at the right time. Boad has, indeed, of a new strategic plan 2021-2025, the plan "Djoliba", which aims to increase 50% the financing of development projects and in particular those related to the ecological transition (is around 6 billion US$ of new loans). So, the planned capital increase is of the order of 1,5 billion US$ and will enable the institution to meet the growing needs of the populations of the Union in transport infrastructure, energy, habitat, agriculture, education and health. This loan, following Boad recommendations, will be intended to finance all of the callable capital as part of its capital increase project. In this perspective, at Badea, committed for a long time in the financing of the economic development of the UEMOA and strategic partner of the BOAD, wishes to support the Bank's capital increase project. For this purpose, the institution is prepared to give sympathetic consideration, any concessional loan request submitted by WAEMU member states. Note that in the same vein, Boad has received the support of the Council of Ministers of Uemoa and Badea for the implementation of the project to increase its capital.

As a reminder, BOAD has adopted a new strategic plan 2021-2025, and the DJOLIBA plan, which aims to increase 50% the financing of development projects and in particular those related to the ecological transition (is around 6 billion US$ of new loans). The planned capital increase is of the order of 1,5 billion US$ and will enable the institution to meet the growing needs of the populations of the Union in transport infrastructure, energy, habitat, agriculture, education and health.

Patrice ADJAHO