The Board of Directors of the West African Development Bank (BOAD) met by videoconference for its 125th ordinary session. Under the presidency of Serge EKUE, Chairman of the Board of Directors, Chairman of BOAD, several loans were approved up to 60 billion FCFA.

The 125th Board of Directors of BOAD examined and approved five (05) financing proposals for a total amount of 60 billion FCFA. Under the new commitments, Benin has benefited from support of 20 billion FCFA for the construction of a logistics platform at the level of the agro-food pole of the agglomeration of Grand Nokoué, in Abomey Calavi. Covering an area of 168 ha, the platform will improve the quality of service of the wholesale and export activities of agri-food products in Benin. The development of the cornice as part of the asphalting of urban roads in Tillabéri, in the Republic of Niger, benefited from a loan of 6.5 billion FCFA. The project will thus contribute to boosting the economy by improving the living environment of the population and transport conditions in the city.

The extension and modernization of the network of the Société Holding Togolaise des Communications Electroniques (TOGOCOM) SA in Togo was supported by BOAD to the tune of 20 billion FCFA. Its implementation will allow the achievement of coverage of 98% of the population and 90% of the Togolese territory in 2023. In favor of Mali, the banking institution has released 3.5 billion FCFA for the establishment of a third line of refinancing in favor of the Union des Caisses Mutuelles KAFO JIGINEW. This assistance is part of the efforts undertaken by the Bank to contribute to strengthening the stable resources of WAEMU's National Financial Institutions (NFIs). Also the BOAD Board of Directors approved the renewal of a partial counter-guarantee of a short-term guarantee granted by Société Générale Côte d'Ivoire (SGCI) to Côte d'Ivoire Energies (CI-ENERGIES) . The amount of the operation is 10 billion FCFA. Finally, “the Board took note of a communication on the progress of the PENINSULA project, designating the operation to double the Bank's equity. The planned capital increase of at least $1.3 billion aims to give BOAD the means to meet the growing needs of the Union's populations, particularly in the areas of transport infrastructure, energy, housing, agriculture, education and health," the Bank's press release points out.