(Ecofin Agency) - The West African Development Bank (WADB)’s investment in West Africa reached CFA5, 000 billion ($9.66 billion), the institution indicated in a statement.

According to information relayed by Xinhua, this figure includes all the operations carried out by the bank for economies within West African Economic and Monetary Union (WAEMU), since it launched its activities. So, the latest CFA 195 million ($368.8 million), out of which CFA190 billion will be directed to local development projects in Côte d'Ivoire, Burkina Faso, Senegal and Benin and CFA5 billion to be used to buy shares in the CAURIS IV SMEs’ investment fund, is also included. 

For the record, BOAD is a sub-regional institution created in 1973 and “focused on development of member economies towards balanced development and to prepare economies for future West African economic integration”.

Since 2015, the bank’s actions are in line with the strategic plan to boost economic integration and transformation in West Africa by 2019.

Moutiou Adjibi Nourou (intern)