On the sidelines of the Africa Forward summit, the West African Development Bank (BOAD) and PROPARCO, a subsidiary of the AFD Group, announced the signing of an unprecedented €200 million financing agreement (equivalent to approximately CFAF 131 billion). Structured by Galite as a cross-currency transaction between the euro (EUR) and the CFA franc (XOF), this operation is a global first in both its nature and ambition.
This structure directly addresses current challenges related to reforming the global financial architecture by introducing an innovative and catalytic financial instrument. It enables:
- More efficient allocation of resources through expanded access to the XOF market, helping diversify financing options for local businesses;
- Greater stability through support for the WAEMU region’s foreign exchange reserves, ensuring stronger macroeconomic resilience;
- Direct impact through the financing of transformative private-sector projects, a key driver of job creation in the region.
