After receiving the support of regional and non-regional shareholders, the West African Development Bank (WADB) capital increase project is the focus of a tripartite meeting, which opened on Thursday 28 July in Lomé. The objective of this two-day meeting is to discuss the contribution of the eight States of the region.

The tripartite meeting brings together representatives of the WADB, the Arab Bank for Economic Development in Africa (BADEA) and the eight states of the WAEMU zone. Thus, the exchanges concern the framework of intervention of BADEA, the scheme of the operation, sharing of experiences on the steps to be taken for a rapid entry into force of loan agreements and the implementation schedule.

Speaking about the scheme of the operation, the bank's chief economist, Alain Tchibozo, explained that out of an overall need of 900 million dollars, 400 million dollars are expected from the States, i.e. 50 million per State. "A first part of 900 million dollars will be subscribed between category A shareholders (states) and category B shareholders (non-regional). A second part of $600 million will be subscribed in the form of hybrid debt," he said.

The WADB has adopted a new strategic plan for 2021-2025, the DJOLIBA plan, which aims to increase by 50% the financing of development projects, particularly those related to the ecological transition (about US$ 6 billion in new loans). The planned capital increase is in the order of US$1.5 billion and will enable the institution to meet the growing needs of the Union's populations in terms of transport infrastructure, energy, housing, agriculture, education and health.