On Monday, the West African Development Bank’s (BOAD) board of directors approved the 2014-2018 financial outlook update along with the 2015-2017 programme budgeting at the bank’s 95th ordinary meeting in Cotonou, Benin.

The financial outlook update illustrates the number of initiatives in each sector, how much each one will cost and sets out the role the bank will play in every transaction.

The bank will provide short-to-medium term loans over 2015-2018 with a grand total of US$2,094 334 which does not include contributions from the Energy Development Fund (FDE).West Africa

The financial outlook update follows the new strategic plan for 2015-2019 which was introduced last year, including the vision for BOAD to become ‘a solid development bank for economic integration and transformation in West Africa’.

Outline of the vision:

  • Accelerating regional integration through continued infrastructure financing
  • Supporting inclusive growth, food security and sustainable development
  • Supporting businesses and governments and developing financial engineering and services
  • Deepening the resource mobilization process

 

(Pic Credits: The energy collective)