GENERAL KNOWLEDGE

Detailed explanation-1: -Who we are? 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.

Detailed explanation-2: -It is funded by member states, foreign governments and international agencies. Its headquarters are in Lomé, Togo.

Detailed explanation-3: -The Central Bank of West African States (French: Banque Centrale des États de l’Afrique de l’Ouest, BCEAO) is a central bank serving the eight west African countries which share the common West African CFA franc currency and comprise the West African Economic and Monetary Union (UEMOA).

Detailed explanation-4: -BOAD is an international public institution whose purpose, as providedunder 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.