• The West African Development Bank held the first board meeting of its new foundation.

• Two thematic funds will target emergency solidarity and knowledge promotion.

• A 2026–2028 strategic plan will guide its social and environmental initiatives.

The West African Development Bank (BOAD) has taken a new step in its institutional development with the creation of the BOAD Foundation, designed to embody its social and environmental commitment. The Bank’s president, Serge Ekué, who also chairs the Foundation’s board of directors, presided over its first ordinary board session held in Lomé in a hybrid format.

This initial meeting established a strong and transparent governance framework, adopted the internal regulations, approved the composition of the executive team, and defined the delegation of authority provided for in the statutes. The board also approved the creation of two thematic funds: an emergency solidarity fund to respond swiftly to humanitarian and climate crises in the region, and a fund for study, culture, and knowledge dedicated to research, training, and the promotion of cultural and scientific heritage.

A New Instrument for Social Responsibility

With this foundation, BOAD provides an institutional structure for its wide range of corporate social responsibility (CSR) initiatives. The regional bank already finances high-impact community projects in rural electrification, agricultural irrigation, access to clean water, and support for women and rural SMEs.

These initiatives, previously implemented under the Djoliba 2021–2025 plan, now continue naturally through the Foundation. That plan, which achieved 107% of its sustainable development goals by mid-2025, strengthened BOAD’s position as a leading driver of inclusive financing in the WAEMU region.

A Strategic Plan for 2026–2028 Under Preparation

The board has launched the process of drafting a three-year strategic plan for 2026–2028, which will serve as the Foundation’s roadmap for its first years of activity. The plan will focus on four key priorities: reducing inequalities and promoting human capital, strengthening climate resilience and regional solidarity, supporting young and women entrepreneurs, and advancing culture and knowledge as drivers of sustainable development.

Governance Aligned with International Standards

The Foundation inherits BOAD’s discipline and standards as the only West African financial institution rated “investment grade” by Moody’s (Baa1) and Fitch (BBB). Its governance, inspired by the ESG and IFRS principles adopted by the Bank, is expected to ensure transparency, resource traceability, and alignment with the Djoliba strategy centered on impact and sustainability.

“A Tool of Solidarity Serving the Most Vulnerable”

Closing the session, Serge Ekué emphasized the human focus of the new structure. “The Foundation must permanently embody BOAD’s commitment to inclusive, sustainable, and deeply human development,” he stated.