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AFD and BOAD sign new cooperation agreements

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Friday, 23 November 2012

AFD and BOAD sign new cooperation agreements

The Groupe Agence Française de Développement (AFD) and the West African Development Bank (BOAD) signed on 15 November three new cooperation agreements for the development of the WAEMU zone. These are: a partnership agreement between AFD’s Center for Financial, Economic and Banking Studies (CEFEB) and BOAD to expand the scope of their partnership for training, capacity building and to develop the expertise of BOAD executives; a EUR 75 m credit line to refinance projects under the Regional Initiative for Sustainable Development (IRED) of the West African Economic and Monetary Union (WAEMU); and a EUR 0.5m grant to support contracting authorities in the energy sector.
These agreements were signed during the 5th annual meeting between the AFD and the BOAD, which marks nearly 40 years of financial and technical partnerships for the development of the WAEMU zone. Since 1973, eleven concessional/non-concessional credit lines have been allocated to BOAD by AFD.

Source: AFD