West African Devel­op­ment Bank (BOAD), a key player in in­fra­struc­ture fi­nanc­ing in the West African Eco­nomic and Mone­tary Union (UEMOA)

The Africa Report - - BRIEFING -

In sec­tors such as road, port and air trans­port, en­ergy, telecom­mu­ni­ca­tions and tourism, the West African Devel­op­ment Bank (BOAD) works along­side pub­lic and pri­vate play­ers in the UEMOA to pro­vide a sus­tain­able source of fund­ing for in­vest­ments in mod­ern in­fra­struc­ture. Armed with over 40 years of tech­ni­cal and fi­nan­cial ex­per­tise, BOAD has placed in­fra­struc­ture devel­op­ment at the heart of its mis­sion. The Bank re­mains the main fund­ing part­ner in this sec­tor for mem­ber coun­tries. In Côte d’ivoire, it has funded ma­jor in­te­gra­tion projects such as the ex­pan­sion of the Az­ito and CIPREL power plants, the con­struc­tion of the Henri Ko­nan Bedie Bridge and the Gis­card d’es­taing in­ter­change, as well as the ex­ten­sion of the Félix Houphouët Boigny Air­port in Abidjan. The bank has also funded the con­struc­tion of the Tobene Power Plant in Sene­gal, and the ex­pan­sion of au­tonomous ports in var­i­ous cities in­clud­ing Abidjan, Bis­sau, Cotonou, Dakar, San Pe­dro and Lomé. In sup­port of a fea­si­bil­ity study un­der­taken for the hos­pi­tal­ity in­dus­try, BOAD has also funded sev­eral projects in the tourism in­dus­try. Among them are the con­struc­tion, ex­pan­sion and ren­o­va­tion of ho­tels in the Aza­laï Ho­tels Group and the Radis­son BLU Ho­tel 2 Février in Togo. BOAD goes a step fur­ther to pro­vide as­sis­tance to its clients through­out the en­tire fund­ing process. In ad­di­tion to this, BOAD also par­tic­i­pates ac­tively in the set­ting up of investment-driven com­mu­nity pro­grammes in the UEMOA, fo­cus­ing mainly on the en­ergy sec­tor and road in­fra­struc­ture. With direct lend­ing, fund­ing ar­range­ment and fi­nan­cial ad­vice, the Bank of­fers a wide range of prod­ucts ap­pro­pri­ate to client and part­ner fund­ing needs. It also pro­vides tai­lored as­sis­tance to meet each client’s spe­cific needs.

ABOUT THE BOAD

Es­tab­lished in 1973, the West African Devel­op­ment Bank is a joint bank serv­ing eight mem­ber coun­tries in the West African Eco­nomic and Mone­tary Union (UEMOA). Its prin­ci­pal tasks are to pro­mote the in­te­gra­tion and bal­anced devel­op­ment of its mem­ber states in the West Africa re­gion. Deeply in­volved in devel­op­ment is­sues, the Bank works in part­ner­ship with other re­gional in­sti­tu­tions to achieve re­gional in­te­gra­tion and it en­deav­ours to strengthen the syn­ergy of ac­tions be­tween it­self and these in­sti­tu­tions. In 2015, the in­ter­na­tional agen­cies Moody’s and Fitch as­signed BOAD the is­suer rat­ings of Baa1 and BBB re­spec­tively, with a sta­ble out­look. The two agen­cies af­firmed their rat­ings in 2016, en­abling the in­sti­tu­tion to lever­age re­sources from in­ter­na­tional cap­i­tal mar­kets in or­der to make its fund­ing more and more com­pet­i­tive.

Valéry Gis­card d’es­taing in­ter­change funded by BOAD.

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