The West African Development Bank (Boad) recently held its 152nd ordinary session in Lomé, Togo, on September 24, 2026, under the chairmanship of Serge Ekué, President of the Board of Directors and the institution. During this meeting, the bank approved 157.5 billion CFA francs in new operations. These funds will support projects in several West African Economic and Monetary Union (Uemoa) member countries, covering key sectors such as agriculture, transportation, energy, industrialization, and the private sector.
The approved projects include a 45 billion CFA franc allocation for the third phase of the agricultural mechanization and irrigation support program in Togo. This phase aims to develop 530 hectares of land and acquire irrigation equipment, with an expected additional production of at least 100,000 tons of rice per year. In Guinea-Bissau, 30 billion CFA francs have been earmarked for the first tranche of the Safim-Jugudul road development and paving project.
In Burkina Faso, 10 billion CFA francs will be invested in establishing a cement production plant by Afric Cements in the Kossodo industrial zone in Ouagadougou. The energy sector also received significant attention, with 37 billion CFA francs granted to Compel Sa to increase petroleum product storage capacity by 170,000 cubic meters in Togo.
The Boad has also approved 17.5 billion CFA francs for Benin to acquire stakes and energy infrastructure through Yattassaye & Company Energy Invest. In Mali, 8 billion CFA francs will be allocated to Sotraka Sa for importing approximately 20,000 cubic meters of hydrocarbons. Furthermore, the bank has approved a 10 billion CFA franc refinancing line for Cofina Côte d'Ivoire to support small and medium-sized enterprises (SMEs), green projects, and women's entrepreneurship.
Additional interventions will bolster resources for the Uemoa. The "Djiguiya 2026-2028" emergency program will receive 200 billion CFA francs to secure supplies of inputs and energy. Contributions from the French Development Agency (AFD), the African Development Bank (BAD), the German Development Cooperation (KfW), and the China Development Bank will complement resources dedicated to agriculture, climate, renewable energy, and SME financing.
With these new operations, the cumulative amount of Boad financing since its establishment in 1973 has reached 10,991.6 billion CFA francs. The bank's ongoing efforts aim to foster economic development and integration across West Africa, addressing critical infrastructure and sectoral needs.
The Boad's Board of Directors also reviewed and approved the bank's interim accounts as of June 30, 2026, and provided a favorable opinion on the state of loan recovery as of August 31, 2026, during their session. These actions reflect the bank's commitment to financial prudence and operational transparency.
Key points
- The Boad has approved 157.5 billion CFA francs for various projects across West Africa.
- The projects will focus on agriculture, transportation, energy, industrialization, and the private sector.
- The cumulative amount of Boad financing since its establishment in 1973 has reached 10,991.6 billion CFA francs.
