West African Development Bank

The West African Development Bank (WADB, Banque Ouest Africaine de Developpement, BOAD) was established on November 14, 1973 to serve the nations of Francophone and Lusophone West Africa, and is headquartered in Lome, Togo. Organized by the Central Bank of West African States together with eight member governments (Benin, Burkina Faso, Guinea-Bissau, Cote d'Ivoire, Mali, Niger, Senegal and Togo), it provides long- and medium-term loans to member governments, public institutions and private businesses in pursuit of poverty reduction, economic integration and private-sector growth, and it also finances micro-credit and debt-relief initiatives redirected toward health, education and infrastructure.