The agreement was signed on October 14, 2026, in Bangkok, Thailand, by BOAD President Serge Ekué and Proparco Chief Executive Officer Françoise Lombard, on the sidelines of the annual meetings of the World Bank and the International Monetary Fund.

The financing arrangement is based on a cross-currency mechanism involving the euro and the West African CFA franc. It is designed to strengthen BOAD's ability to mobilize financial resources while expanding access to local-currency financing for businesses operating in the regional bloc.

The initiative is expected to help companies access funding in CFA francs, reduce their exposure to foreign exchange risks and support productive investments across the region.

The agreement forms part of BOAD's 2026–2030 strategic plan, known as "Djoliba... La Suite", under which the regional development bank aims to mobilize CFAF 6,500 billion in financing over five years.

The deal also follows a previous €200 million cross-financing agreement signed by the two institutions in May 2026 in Nairobi, Kenya, bringing their recent financing initiatives to a broader scale.

Through this partnership, BOAD and Proparco aim to strengthen private-sector financing, support business development and contribute to economic growth and job creation across the eight WAEMU member states.

The €100 million figure refers to the October 14 operation, as reported by CADRECO and other coverage. BOAD and Proparco's earlier May agreement was €200 million. A separate legal publication by Orrick describes the October cross-lending transaction as €200 million, so the amount should be checked against the signed transaction documents before publication.