Share
Print
The West African Development Bank (WADB), known in francophone nations as Banque Ouest Africaine de Développement (BOAD), is an international multilateral development bank founded in 1973 with the goal of supporting French-speaking and Lusophone West African states.
The Central Bank of West African States, along with its eight-member nations (including Benin, Burkina-Faso, Guinea Bissau, Ivory Coast, Mali, Niger, Senegal and Togo) established the BOAD whose headquarters are in Lome, Togo.
The bank makes long- and medium-term loans to private enterprises that are engaged in regional development initiatives, offers credit lines to support micro-credit programs and small to medium private businesses and also supports debt relief initiatives for member states in exchange for funds being allocated to health projects, namely those concerned with HIV/AIDS, education and infrastructure upgrades.