BOAD joins the International Aid Transparency Initiative (IATI)
The West African Development Bank (BOAD) is now a member of the International Aid Transparency Initiative (IATI). It has just been admitted into the community of one hundred and two (102) members, including United Nations agencies, international development and civil society organizations, which are committed to promoting greater transparency regarding the use of resources devoted to development and humanitarian action in order to fight against poverty and crises.
This membership indicates the increased commitment of the institution to transparency in disseminating information on its operations, as per international standards.
BOAD is aware that as a trusted recipient of public and private funds, transparency of operations is a key element of accountability. It demonstrates that transparency, accountability and information sharing are key to meeting the expectations of its clients, increasing development effectiveness and, more generally, reducing poverty.
With greater transparency, the Bank believes that stakeholders are able to track the results of its operations and, therefore, help ensure that benefits reach the target populations.
Membership in IATI follows the development of the dissemination and access to information policy that came into force at BOAD by regulation 2013-013 dated 5 December 2013.
As a member of IATI, BOAD is committed to continue making available data on its operations, particularly those pertaining to projects and programmes, but also policies, strategies, procedures, guidelines as well as the main decisions adopted during project development and execution.
The West African Development Bank (BOAD) is the common development finance institution of the member countries of the West African Economic and Monetary Union (WAEMU). A public international institution whose purpose, as provided under Article 2 of its Articles of Association, is “to promote the balanced development of member countries and foster economic integration within West Africa” by financing priority development projects. The Bank is accredited to the three climate finance mechanisms (GEF, AF, GCF). As of 2009, BOAD has been an observer to the UNFCCC and actively contributes to discussions relating to the design of an international climate finance architecture. Since January 2013, it has been home for the first Regional Collaboration Center (RCC) on Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects. It is committed to becoming carbon neutral by 2023. www.boad.org
About the International Aid Transparency Initiative (IATI)
IATI is a global initiative to improve transparency of resources earmarked for development and humanitarian action and their results in addressing poverty and crises. It was launched in 2008 at the Third High-Level Forum on Aid Effectiveness in Accra in response to the international community’s call for greater transparency in the use of development resources. IATI is funded and governed by its members, which include governments, humanitarian and development organizations from across the world. The initiative urges all organizations involved in the fight against poverty and international crises to publish open data on their spending and projects in accordance with the IATI standard. https://iatistandard.org.