The West African Development Bank approved CFA157.5 billion of new operations and interventions at its 152nd board meeting in Lomé on 24 September. The approvals took BOAD's cumulative financing commitments since its creation in 1973 to CFA10,991.6 billion. The package covers projects and borrowers in Togo, Guinea-Bissau, Burkina Faso, Benin, Mali and Côte d’Ivoire.
The board also approved BOAD's interim accounts to 30 June and reviewed loan-recovery information through 31 August. Its new commitments span agriculture, transport, industry, energy and private-sector refinancing.
PROJECTS SPAN FOOD, TRANSPORT AND ENERGY
BOAD approved CFA45 billion for the third phase of an agricultural mechanisation and irrigation programme. BOAD said the project would develop 530 hectares, acquire irrigation equipment and target at least 100,000 tonnes of additional annual rice production. It approved CFA30 billion for Guinea-Bissau for the first tranche of the Safim-Jugudul road project, and CFA10 billion for Afric Cements to build a cement plant at Kossodo in Burkina Faso.
BOAD approved CFA37 billion to expand petroleum-product storage capacity in Togo by 170,000 cubic metres. It also committed CFA17.5 billion toward the acquisition of energy assets in Benin and CFA8 billion for a Malian company to import about 20,000 cubic metres of fuel. The Benin assets include storage facilities, a petroleum quay and a filling-station network.
PRIVATE-SECTOR LINE EXTENDS INCLUSION FINANCE
The final CFA10 billion operation is a refinancing line for COFINA Côte d’Ivoire. BOAD said the facility would support medium-term financing for small and medium-sized businesses, financial inclusion, green projects and women entrepreneurs.
The board also approved other interventions, including the CFA200 billion DJIGUIYA 2026-2028 emergency programme to help WAEMU states secure food and energy supplies. It also approved credit lines from partners including Cassa Depositi e Prestiti, the Agence Française de Développement, the African Development Bank, KfW and China Development Bank.