Within the framework of its capital increase project, the West African Development Bank (WADB) has received the support of the WAEMU Council of Ministers and the Arab Bank for Economic Development in Africa (BADEA). The three institutions signed a tripartite declaration on Friday, June 24, 2022, on the sidelines of the ordinary session of the WAEMU Council of Ministers.

Sani YAYA, Minister of Economy and Finance of the Togolese Republic, current President of the WAEMU Council of Ministers; Serge EKUE, President of BOAD and Sidi Ould Tah, Director General of BADEA signed the declaration.General of BADEA signed a tripartite declaration on the sidelines of the ordinary session of the WAEMU Council of Ministers. The declaration is a materialization of the commitment of the two regional entities to the success of the capital increase project. BADEA is willing to consider sympathetically any request for a concessional loan submitted by WAEMU member states. This loan, in accordance with BOAD's recommendations, will be used to finance the totality of the capital to be called within the framework of its capital increase project.

Indeed, the WADB has adopted a new strategic plan for 2021-2025, the DJOLIBA plan, which aims at increasing by 50% the financing of development projects, particularly those related to the ecological transition (i.e. 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.