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BOAD has been a customer of OeEB since 2012. Based on the good cooperation, another long-term credit line was signed in October 2020.
| Project name | Banque Ouest Africaine de Développement (BOAD) |
| Region | Sub-Saharan Africa |
| Sector | Energy / Resource efficiency / Infrastructure |
| Service | Investment Finance |
| OeEB project volume | EUR 30 million |
| International climate finance according to UNFCCC | No |
| Additionality | Financial Additionality |
| Project partner(s) | Banque Ouest Africaine de Développement (BOAD) |
The EUR 30 million credit line is dedicated to the private sector and is intended to help securing existing jobs and create new ones.
Due to the diverse economic challenges, the WAEMU region is not homogeneous from an economic point of view, also due to different growth rates. In order to support sustainable economic growth, the funds will be channeled into all sectors that can be financed by OeEB, such as infrastructure and energy, manufacturing and agriculture.
About BOAD
The West African Multilateral Development Bank was founded in 1973 and is headquartered in Lome, Togo. It focuses on promoting economic integration and the development of its Member States. Most of them are LDCs. BOAD offers short- to long-term loans, equity investments and guarantees for both private companies and the public sector. Target sectors are rural development, infrastructure, telecommunications, energy, industry, transport, tourism and financial services.