• AfDB chief Sidi Ould Tah met BOAD president Serge Ekué in Abidjan on Aug. 30.
• Talks focused on joint efforts to attract private investment for major projects.
• Energy, infrastructure, and digital sectors seen as priorities for co-financing.

The president of the African Development Bank (AfDB), Sidi Ould Tah, met with Serge Ekué, head of the West African Development Bank (BOAD), in Abidjan on August 30, 2025, to strengthen cooperation between the two institutions.

Le @PresidentBOAD, Serge EKUE, a rencontré l'@AfDBPresident, Dr Sidi Ould TAH, à Abidjan, en Côte d'Ivoire. Les échanges ont porté sur le renforcement de la coopération et la mise en œuvre de projets stratégiques pour soutenir le développement durable en Afrique de l'Ouest. pic.twitter.com/vm4whVMJs0

— Banque Ouest Africaine de Développement (@BOAD_official) September 30, 2025

The meeting is part of the “Four Cardinal Points” program launched by Ould Tah, which seeks to deepen ties with regional development banks to mobilize more financing for major projects in Africa. The goal is to encourage private investment, seen as the main driver of job creation on the continent, particularly for youth and women.

From 2015 to 2025, Ould Tah led the Arab Bank for Economic Development in Africa (BADEA), where he pushed to build stronger links with regional institutions. In late 2023, BADEA acquired a $30 million stake in BOAD, becoming a shareholder. It also supported BOAD’s first hybrid capital operation and provided a $500 million loan to WAEMU member states, enabling them to take part in BOAD’s $1.5 billion capital increase.

The AfDB also raised its shareholding in BOAD in 2024 with a $24 million injection. Already a shareholder since 1988, the AfDB had granted BOAD a €70 million credit line in 2021 for projects in energy, agriculture, and infrastructure. With its triple-A rating, the only one on the continent, the AfDB is now viewed as a key partner for BOAD, which holds an investment grade rating, in structuring innovative financing and deploying credit enhancement tools.

The cooperation also reflects a close relationship between the two leaders. Ekué was among the first to back Ould Tah’s candidacy for AfDB president and reportedly played a key role in rallying WAEMU countries. Their ties go back years: when conflict erupted in Khartoum, BADEA’s headquarters, part of the bank’s staff found refuge in Lomé at BOAD’s offices.

According to sources, the partnership between Abidjan and Lomé is set to enter a new phase. Joint co-financing is planned in energy, infrastructure, and digital sectors, while new guarantee mechanisms are being considered to attract private investors. Both banks aim to broaden their scope and play a decisive role in West Africa’s economic transformation.