This loan reinforces the exemplary cooperation between the two institutions in the technical, operational and financial sectors," said Christian Adovelande, President of WADB
The AfDB is a historic partner of WADB, as it has participated to its capital increase since 1987.
In his statement during the ceremony, Tim Turner, Director of AfDB s Private Sector Operations, highlighted the importance of AfDB s financial assistance to WADB and stated that granting this facility is motivated by the rapid development of WADB activities, which requires mobilizing additional resources to address growing investment demand from private economic players in its area of intervention.
The AfDB and WADB have enjoyed a partnership that spans more than 14 years and includes equity participation, a technical assistance and a line of credit.
The facility provides WADB with medium-to-long-term resources needed to fulfil its mandate to promote economic growth and sustainable development as well as foster regional integration in the West Africa sub-region.