AFRICAN ECONOMIC RECOVERY: THE STRATEGY OF BOAD IN A POST-COVID-19 WORLD - While international development organizations stress African resilience, what is the The West African Development Bank’s (BOAD’s) role? Will the capital increase of the bank be strong enough to support an efficient strategy of investment in a region challenged by tremendous security problems?

Health, education, infrastructure, energy, and agriculture—BOAD’s priorities can provide answers to the massive unemployment of young Africans and increasing poverty, particularly in the Sahelian states. As the effects of COVID-19 are still ongoing, the lack of infrastructure remains a major concern. In the meantime, African resilience brings unprecedented hopes in Africa’s ability to overcome those challenges. The recent success of the BOAD capital increase marks an important turning point in the history of the bank. This critical context requires a redefinition of the relationship with multilateral and bilateral partners on a continent where the competition between global powers has never been so tough.

As he visited Washington, BOAD’s President, Serge Euke, engaged in dialogue with the Africa Center on many crucial issues for the future of the continent. As a major actor in the development bank landscape, Ekue told us if African nations are able to take the initiative and transform their huge potentials into true opportunities.

Pan-African organizations are leading the way in bridging the gaps and showing that African-grown solutions are cause for calibrated optimism. This is evidenced by the emergence of Pan-African procurement platforms and the contributions of African development finance institutions, which are working hard to introduce innovative structures to catalyze the public and private sector response.

ORIGINAL AIRDATE: 10/12/21