BOAD (Banque Quest Africaine de Development)

Promoting the development of African member states

Overview

The West African Development Bank (BOAD) is the common financing institution of the development of the states of the West African Monetary Union (WAMU) transformed into an Economic and Monetary Union of West Africa (UEMOA) Treaty by January 10 1994. It was created by the Treaty signed on 14 November 1973 its member states. The Member States of the BOAD are Benin Burkina Faso Ivory Coast Guinea Bissau Mali Niger Senegal and Togo. Under the Treaty of WAEMU came into effect August 1 1994 BOAD is a common specialized agency of the Union. It contributes independently to achieve the objectives of the WAEMU without prejudice to the objectives assigned to it by the Treaty of WAMU BOAD is a public institution with international character whose purpose is according to The Article 2 of its Statutes to promote the balanced development of Member States and achieve economic integration in West Africa by financing priority projects of rural development basic infrastructure modern infrastructure telecommunications energy industry transport agro industries tourism and other services.