Description
The year 2009, which was marked by a global financial and economic crisis, had been a difficult year for WAEMU countries. It led to wider budget deficits, and the economic growth rate, initially set at 4.7%, finally stood at 3%. Within this unfavorable context, BOAD was able to play a contra-cyclical role, as far as its circumstances permitted. It expanded its annual volume of support by 125% compared to the previous year by raising its commitments to FCFA 234.1 billion. This is the highest annual volume of financing that the Bank has recorded to date.
To achieve this result, the Bank took advantage of the onset of the implementation of the 2009-2013 Strategic Plan from the very beginning of the year. This Strategic Plan contributed to meeting more ambitious quantitative targets than those of the past. It also ensured real qualitative improvement in the Bank’s interventions in the face of new challenges that economies must address, such as food insecurity, climate change, environmental degradation, difficulties in promoting private sector financing (in particular for SMEs), and low access to financial services by a large number of our fellow citizens.
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