The West African Development Bank (BOAD) has just strengthened its cooperation with the French Public Investment Bank (BPI France). The heads of the two financial institutions signed a cooperation agreement on Tuesday, September 14, 2021.

Serge EKUE, President of BOAD and PEDRO NOVO, Executive Export Director of BPI France formalize their cooperation by signing a collaboration framework. This agreement aims to develop activities and jointly finance projects, particularly in the small and medium-sized enterprises (SME) sector, for subjects relating to creation, innovation, development, investment, and internationalization, among others. , within the WAEMU zone. In a press release published on its website, the sub-regional institution stresses that this partnership is part of BOAD's commitment to SMEs in the West African sub-region. Thus, it will contribute to facilitating their access to financing, in particular to medium and long-term loans. Indeed, since the beginning of the Bank's operations, a little less than €800 million (782) have been dedicated to SMEs in the form of refinancing lines granted to local banks and microfinance institutions. This financing has made it possible to create jobs for young people and women. "Through this partnership, the two institutions undertake to strengthen business relations between European companies and those of WAEMU, to boost the co-financing of projects and dedicated programs, and to strengthen mutual technical assistance" , indicates the BOAD. With the Djoliba Strategic Plan for the 2021-2025 five-year period, BOAD has set itself the objective of contributing to the creation of 245,000 additional jobs, including approximately 17,000 in the MSME segment.