Faithful to its mission, the West African Development Bank (BOAD) plays a leading role in the economic and financial integration in the WAEMU member countries. As such, it focuses its efforts on three key areas.
FINANCING OF INTEGRATION-PRONE PROJECTS
BOAD invests huge resources to support integration-prone projects aimed at enhancing the complementarity of the WAEMU member countries’ economies and improve their competitiveness. As at 31 December 2016, these investments stood at about FCFA1434,4 billion for 322 operations, representing 34.1% of the Bank’s net commitments. They made it possible to implement, rehabilitate and modernize infrastructure in various sectors: road, port, air, rail transports, energy and telecommunications. The industrial sector also benefitted from BOAD’s financial support for the implementation of integration-oriented productive investments, notably in the cement sector.
SUPPORT TO THE IMPLEMENTATION OF THE WAEMU SECTOR-SPECIFIC PROGRAMMES
BOAD actively participates in the implementation of the WAEMU community investment programmes such as the second phase of the Regional economic programme (PER II), the Regional initiative for sustainable energy (IRED), the Community action programme for infrastructure and road transports (PACITR) essential to enhanced integration in West Africa. It is also part of the steering committees of various projects developing the common sectoral policies of the Union.
Promotion of the regional capital market
BOAD has played a key role in the regional capital market by launching in 1993 the first bond loan issue carried out through a public offering at regional level. With FCFA991 billion of funds raised, BOAD is until now, the first non-sovereign issuer of the regional capital market. Shareholder of the Regional Stock Exchange and the Central Securities Depository/Bank of Settlements, it also contributed to the inception of new financing tools and specialized financial institutions: GARI Fund, Cauris Investissement, SICAV Abdou Diouf (an open-ended investment company), West African Assets Management Company (SOAGA), WAEMU Regional Mortgage Refinancing Bank (CRRH–UEMOA) and BOAD Titrisation (a securitization company).
All these actions contributed to the implementation of its mission which consists of promoting the balanced development its member countries and fostering the economic integration of the WAEMU region.