Banque Ouest Africaine de Développement (West African Development Bank)

Direct (Regional)

Type: Direct (Regional)
Date approved: 13 Oct 2016
Size: Medium
ESS Category: Category A, Intermediation 1
Fiduciary standards: Basic, Project management, Grant award, On-lending/blending (Loan), On-lending/blending (Guarantee)

The Banque Ouest Africaine de Développement (West African Development Bank, BOAD), is a regional financial institution with a mandate to promote development in West Africa and foster economic integration within the subregion. The entity delivers on its mandate by contributing towards the mobilization of domestic resources in its member state countries, outsourcing foreign capital through loans as well as providing funding through equity investments, loans, guarantees, and interest rebates. The entity uses the financial resources that it mobilizes to invest in public and private sector projects and programmes aimed at building basic and modern infrastructure, improving rural livelihoods, generating energy, and climate change adaptation and mitigation.