By Reda Helal
, April 2, 2026 – The West African Development Bank (BOAD) and the International Finance Corporation (IFC), a member of the World Bank Group, reinforced their strategic partnership today during a high-level working session at BOAD’s headquarters in Lomé. The meeting focused on accelerating transformative projects that drive growth, job creation, and sustainable development across the West African Economic and Monetary Union (WAEMU).
Under the leadership of Serge Ekué, President of BOAD, and Ethiopis Tafara, IFC Vice President for Africa, senior officials and sectoral teams from both institutions engaged in discussions across four key areas: energy and natural resources, agriculture and food security, innovative financing, and affordable housing.
The session highlighted opportunities for co-financing renewable energy and gas projects, advancing sustainable water resource management, and issuing WAEMU sustainable bonds backed by the cashew value chain. Innovative financing mechanisms, including a cross-currency XOF–EUR instrument, were also explored to expand both institutions’ capacity to support regional development.
In the field of agriculture, BOAD and IFC examined collaboration under the World Bank Group’s Global AgriConnect (GAP) initiative, while opportunities to finance affordable housing projects across WAEMU were identified. The meeting concluded with an agreement on a concrete action plan, outlining priority co-financing projects, BOAD’s role in GAP, and the roadmap for innovative financial instruments.
“This strategic dialogue reflects our shared vision to reduce poverty, create jobs, and improve living conditions across West Africa,” said Serge Ekué.
The collaboration between BOAD and IFC builds on several years of co-financing initiatives supporting private sector growth and aligns with both institutions’ broader strategies for sustainable regional development.