The West African Development Bank (Boad) announced on its Twitter account the withdrawal of a financing of four hundred and ninety-one billion CFA francs following a bond issued by the financial institution. This success achieved by the bank in financing projects with a high social and environmental impact is historic in his life.

"A first for the West African Development Bank (Boad), which has just completed the first sustainable bond issue in its history. €750 million raised from more than 260 international investors for projects with strong social and environmental impacts?" said Moustapha Ben Barka, Vice President of the West African Development Bank.

This environmental issue four hundred and ninety-one billion CFA francs with a maturity of twelve years has attracted more than two hundred and sixty international investors, says the institution. In detail, 40% come from the United Kingdom, 40% from Europe, 17% from the United States, 2% from Asia and 1% from the Middle East, including 75% from asset managers and 21% from institutional investors, namely banks, insurance companies and pension funds. It was subscribed six times with total demand amounting to €4.4 billion.

"Out of €4.4 billion of intentions from 260 international investors, we have retained €750 million (CFAF 491 billion) with a maturity of 12 years at 2.75%. Congratulations to the teams for this success. This investor confidence honors and obliges us?", says Serge Ekoué, President of the  West African Development Bank. According to his explanations, the institution he heads is encouraged by the tremendous reception the team has received from investors. The very high quality of the order book and the high level of subscription testify to investors' adherence to the bank's vision and their confidence in the growth and prosperity prospects of the WAEMU zone . The bond issue by Boad is part of a "? Sustainability Bond Framework?", committing the institution to the financing of projects with high social and environmental impacts.

The financial resources thus mobilized strengthen the Bank's capacity to act in priority sectors such as agriculture, food security, renewable energy, basic infrastructure, health, education and social housing. Recall that the operation is part of the vision of the Djoliba strategic plan which aims to accelerate the economic transformation of west African countries and in particular those of waeMU, in particular through the implementation of ambitious regional and national development programs. The Boad is aware of the importance of the role it must play in this process. This is why, in line with its mission, it will continue to adapt its strategy for the promotion of investments and the support of structural changes.

By Alexis Meton.