Multilateral Development Banks
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West African Development Bank (BOAD)
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West African Development Bank (BOAD)

by Selin CanJuly 11, 2017
Overview
Abbreviation

BOAD

Founded

1973

Headquarters

Lomé, Togo

Phone Number

+228 22 21 59 06

Website

http://www.boad.org/en/

West African Development Bank (BOAD)

The West African Development Bank (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, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo. It is funded by member states, foreign governments and international agencies. Its headquarters are in Lomé, Togo.

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About The Community Member
Selin Can
Multilateral development banks, or MDBs, are supranational institutions set up by sovereign states, which are their shareholders. Their remits reflect the development aid and cooperation policies established by these states. They have the common task of fostering economic and social progress in developing countries by financing projects, supporting investment and generating capital. MDBs also play a major role on the international capital markets by annually raising the large volume of funds required to finance their loans.

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