WEST AFRICAN DEVELOPMENT BANK

Activities

Assistance to member countries

  • BOAD provides financial assistance to WAEMU member countries to support their development efforts. Such assistance targets various areas, including the organization of workshops, conferences or seminars, the training of government officials and the implementation of social projects.
  • The Bank also grants interest rate subsidy for non-commercial public sector loans to member countries. Also, BOAD participates in various roundtable meetings with a view to financing national development programmes in the member countries.

 

SOCIAL ACTIONS

boad-activites-enfantThe impact of BOAD’s actions goes far beyond improved economic growth of the WAEMU countries. The Bank promotes public and private capital investment in projects and programmes aimed at protecting the populations from external shocks, reducing inequalities and significantly alleviating poverty.

It devotes a significant portion of its commitments to the improvement of the socio-economic conditions and standard of living of the populations of the Union, through wealth and job creation as well as regional land-use planning.

Thus, BOAD implements several actions specifically meant for vulnerable population groups in the rural areas. These actions include:

  • the financing of hydro-agricultural development and drinking water supply initiatives; the opening-up of production areas; the strengthening of food and nutritional security; improved income of rural populations;
  • the development of local grains through the installation of rice processing units and infant flour production units;
  • support to the incorporation of women and youth into economic life;
  • facilitation of access for rural populations to microfinance and modern power services (multi-purpose platforms);
  • environmental protection (desertification and soil erosion control, etc.).

boad-activites-bleRESOURCE MOBILIZATION AND COOPERATION

BOAD has undertaken a number of initiatives to mobilize more financial resources under the best possible conditions to enable it to better support the development efforts of its member countries. The regional capital market remains BOAD’s preferred area for fund-raising. The institution has played a pioneering role since it floated its first bond loan in the regional financial market in 1993. With close to XOF915 billion in funds raised, BOAD positions itself as the first non-sovereign issuer in the regional capital market.

Furthermore, with investment grade ratings awarded to it by Fitch (BBB) and Moody’s (Baa1) in 2015, BOAD successfully floated its first bond loan in the international capital market in 2016. The bond issue made it possible to raise US$750 million.

BOAD has also maintained good cooperation ties with many countries and multilateral and bilateral institutions. Some of these partners include: Germany, Belgium, China, France, India, Japan, Morocco, Switzerland, African Development Bank (AfDB), World Bank, Islamic Development Bank (IDB), the International Francophone Organization (OIF), FAO, the Permanent Inter-State Committee for Drought Control in the Sahel (CILSS), People’s Bank of China, Eximbank of India, OPEC Fund, French Development Agency (AFD), KfW, Japan International Cooperation Agency (JICA), Development Bank of Austria (OeEB), etc. Efforts are underway to expand cooperation with other countries or institutions that show interest in our sub-region.

The regional capital market remains BOAD’s preferred area of resource mobilization. The institution has played a pioneering role since it launched its first bond issue in the regional financial market in 1993. With close to XOF915 billion in funds raised, BOAD positions itself as the first non-sovereign issuer in the regional capital market.

Furthermore, the Bank continues to collaborate with foreign partners to mobilize additional resources to finance its activities. Particular focus is placed on the mobilization of concessional resources which have become scarce but necessary for the Bank’s operations in the non-commercial sector.

BOAD has also maintained good cooperation ties with many countries and multilateral and bilateral institutions. Some of these partners include: Germany, Belgium, China, France, India, Japan, Morocco, Switzerland, African Development Bank (AfDB), World Bank, Islamic Development Bank (IDB), the International Francophone Organization (OIF), FAO, the Permanent Inter-State Committee for Drought Control in the Sahel (CILSS), People’s Bank of China, Eximbank of India, OPEC Fund, French Development Agency (AFD), KfW, Japan International Cooperation Agency (JICA),  Development Bank of Austria (OeEB), etc. Efforts are underway to expand cooperation with other countries or institutions that show interest in our sub-region.

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