BOAD definition
Examples of BOAD in a sentence
The West African Development Bank (BOAD) is the common development finance institution of the Member States of the West African Monetary Union (WAMU).
For forty years of operations, BOAD has acquired extensive experience, a know-how and a sound expertise in funding and implementing both national and regional investment projects.
As part of its operations, BOAD gives a special attention to the Union's community programmes.
It should be noted that there is a third window, namely the Energy Development Fund (FDE), put in place under the community programme referred to as “Regional Initiative for Sustainable Energy” and managed by BOAD for funding energy projects.
BOAD is an international public institution whose purpose, as provided for under Article 2 of its Articles of Association, is to promote the balanced development of its member countries and ▇▇▇▇▇▇ economic integration within West Africa.
Corporate governance principles observed by BOAD are based, inter alia, on transparent operations and accounts, a rigorous control system, an independent external audit system and efficient decision-making process based on staff participation and accountability.
In 2014, the financing provided by BOAD in the form of medium and long- term loans (excluding Energy Development Fund) covered 25 operations involving a total amount of XOF264.4 billion.
Until the Agreement comes into force with respect to B.O.A.D., the Banks will finance the entirety of the Drawdowns up to the FCFA equivalent of FRF 250,000,000.
By Treaty of the West African Economic and Monetary Union (WAEMU) signed on 10 January 1994 and which entered into force on 1 August 1994, BOAD is a specialized and autonomous institution.
It is specified that the amount of the Facility is limited to the FCFA equivalent of FRF 250,000,000 until the Agreement comes into force with respect to B.O.A.D. in accordance with the provisions of the paragraph in Article 1 hereof entitled "Banks", for the FCFA equivalent of FRF 50,000,000.