The West African Development Bank (BOAD) increases its capital by 1.5 billion dollars. This operation will make it possible to inject, through a leverage effect, nearly 4 billion dollars into the economy of the eight countries of the region.

The capital increase will be carried out in two tranches. An immediate first of 1 billion dollars will be subscribed in part by the Central Bank of West African States, whose 46.9% stake will be diluted accordingly, and 400 million by the eight regional shareholder countries (Benin , Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo). Each of the latter agreed to subscribe equally, “a major success”, estimates Serge Ekué, president of BOAD with therefore an unchanged participation at 5.9%.

The strengthening of equity will make it possible, through a leverage effect, to inject 4 billion in financing into the regional economy and to accelerate the strategic development plan based on support for five key sectors (infrastructure, energy, agriculture and security food, health and education, tourist real estate and social housing).