Brussels, 7 December 2022. At the 10th Operational Steering Committee meeting of the Sahel Alliance, BOAD officially joined this community of development partners as the 27th member, and the 18th full member.
This membership will enable the Bank to contribute to the efforts of partners operating in a region where development challenges in terms of infrastructure, energy, food security, health and education as well as major security, demographic and social constraints require strong synergy of action to generate a strong impact.
The Sahel Alliance brings together the major multilateral and bilateral development partners of the Sahel countries. It currently includes 27 members, namely France, Germany, European Union, World Bank, African Development Bank, United Nations Development Programme, Spain, Italy, UK, Luxembourg, Denmark, Netherlands, European Investment Bank, United States of America, Canada, Norway and BOAD, all of which are full members.
About the West African Development Bank (BOAD):
The West African Development Bank (BOAD) is the common development finance institution of the member countries of the West African Monetary Union (WAMU). It was established by an agreement signed on 14 November 1973, and became operational in 1976. As an international public institution, its purpose, as provided under Article 2 of its Articles of Association, is to promote the balanced development of its member countries and foster economic integration within West Africa by financing priority development projects. It is accredited to the three climate finance facilities (GEF, AF, GCF). Since 2009, BOAD sits as an observer at the UNFCCC and actively participates in discussions on devising an international climate finance system. Moreover, since January 2013, it has been home to the first Regional Collaboration Centre (RCC) on Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects. The Bank is committed to carbon neutrality by 2023. www.boad.org