BOAD & Proparco Launch EUR 200 M WAEMU Financing Deal To Boost Private Sector

West African Development Bank (BOAD) and Proparco have launched a landmark EUR 200 M cross-financing agreement aimed at boosting private-sector financing across the WAEMU region.

Announced at the Africa Forward Summit 2026, the deal—structured by Galite—uses a first-of-its-kind euro-to-CFA franc cross-currency mechanism designed to expand local-currency lending, strengthen foreign exchange reserves, and improve financing access for regional businesses.

Founded in 1973 and headquartered in Lomé, BOAD said the structure will support transformative private-sector projects and economic integration across WAEMU. Proparco added that the initiative aligns with broader efforts to reform global development finance and mobilise more local-currency funding for African economies.