Lomé, September 24, 2026 – Under the chairmanship of Serge Ekue, Chairman of the Board of Directors and President of the West African Development Bank (BOAD), the Board of Directors of the institution approved new operations and interventions for a total amount of 157.5 billion FCFA.
This 152nd session of the Board, held in a hybrid format in Lomé, also approved the BOAD’s interim accounts as of June 30, 2026, and gave a favorable opinion on the recovery status of loan receivables as of August 31, 2026. With these new approvals, the cumulative amount of financing committed by the bank since its creation in 1973 reaches 10,991.6 billion FCFA.
The new financing covers several strategic sectors: agriculture, infrastructure, industry, energy, hydrocarbons, financial inclusion, and the private sector.
In the field of food security, BOAD grants 45 billion FCFA to Togo for the third phase of the Agricultural Mechanization and Irrigation Support Program. The project involves the development of 530 hectares and the acquisition of irrigation equipment with a target of producing at least 100,000 tons of rice per year.
In the area of road infrastructure, the bank finances the first tranche of the Safim-Jugudul road development and asphalting project in Guinea-Bissau with 30 billion FCFA, aimed at improving mobility on the RN1 axis and strengthening regional connectivity.
In the industry sector, a financing of 10 billion FCFA is granted for the establishment of a cement production unit by AFRIC CEMENTS in the industrial zone of Kossodo, Ouagadougou. The plant aims for a production capacity of 285,000 tons per year.
The energy sector focuses on several major operations. BOAD provides 37 billion FCFA to the Lomé Oil Complex (COMPEL SA) for the extension of national petroleum product storage capacities, with a planned increase of 170,000 m³.
It also finances the acquisition of energy assets in Benin by Yattassaye & Company Energy Invest with 17.5 billion FCFA, including petroleum and gas storage infrastructure, a petroleum dock, and a network of service stations.
In Mali, a short-term loan of 8 billion FCFA is intended for the Karta Transport Company (SOTRAKA SA) for the import and marketing of approximately 20,000 m³ of hydrocarbons.
The bank also continues its support for the private sector with a refinancing line of 10 billion FCFA for COFINA Côte d’Ivoire, aimed at financing SMEs, green projects, and women entrepreneurship.
In addition to direct financing, the directors approved several resource mobilization mechanisms:
– 200 billion FCFA for the regional emergency program “DJIGUIYA 2026-2028”, dedicated to securing supplies of agricultural inputs and energy in the UEMOA space;
– 131.2 billion FCFA under the third competition of the Italian bank Cassa Depositi e Prestiti (CDP) to finance agricultural and agro-industrial projects at BOAD;
– 196.787 billion FCFA for a matrix credit line from the French Development Agency (AFD), accompanied by a grant of 885.5 million FCFA, intended to strengthen the integration of climate issues in the institutional transformation of BOAD;
– 131.2 billion FCFA for the sixth credit line of the African Development Bank (AfDB), dedicated to financing SMEs in the UEMOA;
– 65.595 billion FCFA for the sixth credit line of KfW dedicated to renewable energy projects, especially solar and battery storage;
– 131.2 billion FCFA for the fourth credit line of the China Development Bank (BDC) for financing SMEs through partner financial institutions.
In conclusion of the meeting, Serge Ekue praised the mobilization of the directors, technical teams, and partners who contributed to the holding of this session.
