African Development Bank and West African Development Bank Strengthen Cooperation to Boost Economic Transformation in West Africa
The African Development Bank (AfDB) and the West African Development Bank (BOAD) have expressed their willingness to strengthen their cooperation in order to mobilize new financing to support the economic transformation of West Africa. This decision was reaffirmed during a meeting held on September 30, 2025, in Abidjan between the President of the AfDB Group, Sidi Ould Tah, and the President of BOAD, Serge Ekué. The meeting is part of the "Four Cardinal Points" program launched by the AfDB, which aims to develop strategic partnerships with regional banks to promote private investment, a key driver of job creation, particularly for young people and women.
Existing Partnership and Future Initiatives
The AfDB and BOAD have already implemented several joint initiatives in recent years. Since 1988, the AfDB has been a shareholder of BOAD and strengthened its participation in 2024 with a contribution of $24 million. It also granted a $70 million credit line in 2021 to finance projects in energy, agriculture, and infrastructure. Sidi Ould Tah, during his presidency of the Arab Bank for Economic Development in Africa (BADEA), had also worked to bring regional institutions closer together. BADEA had invested $30 million in BOAD's capital and granted a $500 million loan to the UEMOA states to support a $1.5 billion capital increase.
Strategic Partnership and Future Plans
With its triple A financial signature, the AfDB is a strategic partner for BOAD, which is rated "investment grade". The two institutions are now considering launching joint co-financing initiatives in the energy, infrastructure, and digital sectors, as well as new guarantee mechanisms to attract more private investment in West Africa. The strengthened cooperation between the AfDB and BOAD is expected to have a positive impact on the economic development of West Africa, particularly in the areas of energy, infrastructure, and job creation.
