The BOAD was created 14 November 1973 by member states of the West African Monetary Union (WAMU). The original charter focused on development of member economies towards balanced development and to prepare economies for future West African economic integration. In 1994, it became the development arm of the West African Economic and Monetary Union (WAEMU/UEMOA).
Structureedit
Since that time several international organisations have become members of the bank, adding funding and sitting on the board. These include The African Development Bank, the European Investment Bank, the Export and Import Bank of India (Exim Bank),[1] and the People's Bank of China.[2] The president of the bank's board is chosen by the heads of state of UEMOA, and since January 2008, Abdoulaye Bio-Tchane. The Bank's day-to-day operations are carried out by the President and the Bank adminmanager, cabinet, directorships of departments based in Lome, and mission offices based in the member nations.[3]
Missionedit
The BOAD released a revised mission statement in 2001, refocusing their funding on three development goals: poverty reduction, economic integration and promotion of private sector activity. The bank disburses long- and medium-term loans, previously available only to BOAD member governments and public institutions, are since 2002 also offered to private businesses involved in development projects of regional importance as well as lines of credit to finance Micro-credit projects and small to medium private enterprises. The BOAD also funds debt-relief programs to member governments with the agreement that funds are instead diverted to health programmes particularly those dealing with HIV/AIDS, education and infrastructure improvements.[4]
Headquartersedit
The bank is headquartered in Lome, Togo, in a seven-story modernist building designed by the French architects Durand, Menard, and Thiebault in 1980.[5]
Referencesedit
^Exim Bank buys stake in West African Development Bank, Financial Express, 4 November 2004
^CHINA TO TAKE STAKE IN WEST AFRICAN DEVELOPMENT BANK AsiaInfo Services, December, 2004
^. Archived from the original on 2009-01-06. Retrieved 2008-09-18.
^. Archived from the original on 2007-08-10. Retrieved 2008-09-18.
West African Development Bank (Boad) Handbook. Intl Business Pubns USA; 6 edition (2007) ISBN1-4330-5912-6
External linksedit
Official website
FAO Sourcebook: The West African Development Bank (WADB)
January 01, 1970
west, african, development, bank, wadb, banque, ouest, africaine, développement, boad, banco, desenvolvimento, oeste, africano, bdoa, international, multilateral, development, bank, established, 1973, serve, nations, francophone, lusophone, west, africa, boad,. The West African Development Bank WADB fr Banque Ouest Africaine de Developpement BOAD pt Banco de Desenvolvimento do Oeste Africano BDOA is an international Multilateral Development Bank established in 1973 to serve the nations of Francophone and Lusophone West Africa The BOAD is organised by the Central Bank of West African States and its eight member governments Benin Burkina Faso Guinea Bissau Cote d Ivoire Mali Niger Senegal and Togo It is funded by member states foreign governments and international agencies Its headquarters are in Lome Togo West African Development BankBanque Ouest Africaine de Developpement French 1981West African Development Bank MapAbbreviationBOADFormation14 November 1973 1973 11 14 TypeDevelopment finance institutionLegal statusTreatyHeadquartersLome TogoRegionWest AfricaMembership8 countriesChairman of the Board of Directors and President of BOADSerge EkueAffiliationsWest African Monetary UnionStaff291 2013 Websitewww wbr boad wbr org wbr en BOAD Lome Togo 1981 Contents 1 Creation 2 Structure 3 Mission 4 Headquarters 5 References 6 Further reading 7 External linksCreation editThe BOAD was created 14 November 1973 by member states of the West African Monetary Union WAMU The original charter focused on development of member economies towards balanced development and to prepare economies for future West African economic integration In 1994 it became the development arm of the West African Economic and Monetary Union WAEMU UEMOA Structure editSince that time several international organisations have become members of the bank adding funding and sitting on the board These include The African Development Bank the European Investment Bank the Export and Import Bank of India Exim Bank 1 and the People s Bank of China 2 The president of the bank s board is chosen by the heads of state of UEMOA and since January 2008 Abdoulaye Bio Tchane The Bank s day to day operations are carried out by the President and the Bank adminmanager cabinet directorships of departments based in Lome and mission offices based in the member nations 3 Mission editThe BOAD released a revised mission statement in 2001 refocusing their funding on three development goals poverty reduction economic integration and promotion of private sector activity The bank disburses long and medium term loans previously available only to BOAD member governments and public institutions are since 2002 also offered to private businesses involved in development projects of regional importance as well as lines of credit to finance Micro credit projects and small to medium private enterprises The BOAD also funds debt relief programs to member governments with the agreement that funds are instead diverted to health programmes particularly those dealing with HIV AIDS education and infrastructure improvements 4 Headquarters editThe bank is headquartered in Lome Togo in a seven story modernist building designed by the French architects Durand Menard and Thiebault in 1980 5 References edit Exim Bank buys stake in West African Development Bank Financial Express 4 November 2004 CHINA TO TAKE STAKE IN WEST AFRICAN DEVELOPMENT BANK AsiaInfo Services December 2004 organisation boad org Archived from the original on 2009 01 06 Retrieved 2008 09 18 PERSPECTIVES boad org Archived from the original on 2007 08 10 Retrieved 2008 09 18 Archnet entry Archived 2011 05 25 at the Wayback Machine Further reading edit nbsp Wikimedia Commons has media related to Banque Ouest Africaine de Developpement nbsp Banks portal West African Development Bank Boad Handbook Intl Business Pubns USA 6 edition 2007 ISBN 1 4330 5912 6External links editOfficial website FAO Sourcebook The West African Development Bank WADB Retrieved from https en wikipedia org w index php title West African Development Bank amp oldid 1195364732, wikipedia, wiki, book, books, library,
