Bissau, 28 March 2023.  The Board of Directors of the West African Development Bank (BOAD) held its 134th ordinary meeting in hybrid format, under the chairmanship of Mr. Serge Ekue, Chairman of the Board and President of BOAD. This was the first meeting of the institution’s fiftieth anniversary year.

Following approval of the minutes of its 133rd meeting held on 2 December 2022 in Niamey (Niger), the Board endorsed the Bank’s annual accounts for the FYE 31 December 2022, the 2023-2027 financial outlook update, the proposed strengthening of the Board’s powers and responsibilities and the Bank’s climate policy.

Ten (10) operations were equally examined and approved by the Board members and related to the partial funding of the following projects:

These new loans, amounting to XOF242 billion, bring BOAD’s total commitments (all operations combined) to XOF7,469.3 billion since commencement of its operations.

Furthermore, the Board issued a favourable opinion on the 2022 annual report, the amendment of the Bank’s Articles of Association following the decision to increase the capital base, the statement of recovery of BOAD loans as at 28 February 2023 and overall recovery situation as at 31 December 2022, and ESG by Design Program: towards increased maturity in CSR at BOAD.

The Board was also informed of the following: the report of the 43rd Audit Committee meeting; the report on the implementation of the 2021-2025 strategic plan “Djoliba”: review as at the end of the 2nd year; the status of BOAD’s operations per country as at 31/12/2022; the report on the implementation of BOAD’s IT Blueprint for 2022; the status report on the use of resources mobilized by BOAD as at 31 January 2023; the report  on the implementation of the 2022 annual tranche of BOAD’s 2022-2024 programme-budget; the compendium of recommendations and decisions taken during Board meetings held in 2022 and the minutes of the ordinary and extraordinary meetings of the WAMU Council of   Ministers held on 19 and 30 December 2022 respectively.

In his closing remarks, Chairman Serge Ekue, on behalf of the Board of Directors, expressed his deepest gratitude to the authorities of Guinea Bissau for the facilities and efforts deployed to host this meeting under congenial conditions.

For further information, please contact:

Communication and Public Relations Department

Tel: + 228 22 23 25 65 / WhatsApp: +228 99 99 32 15

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