The West African Development Bank (WADB) was formed in November 1973. It is a regional development bank that provides financial assistance to its member countries in West Africa. The WADB’s mission is to promote economic and social development in its member countries by providing financial assistance, technical assistance, and policy advice. The WADB’s headquarters are located in Lomé, Togo.
The WADB was founded by 14 West African countries: Benin, Burkina Faso, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. The WADB’s membership has since expanded to include Cape Verde, Chad, Mauritania, and Niger.
The WADB’s main sources of funding are its member countries’ contributions, loans from international financial institutions, and proceeds from its own borrowings. The WADB uses its funds to finance projects in a variety of sectors, including agriculture, energy, infrastructure, and social development.
The WADB has been a major player in the development of West Africa. Its loans and grants have helped to finance a wide range of projects, from roads and bridges to schools and hospitals. The WADB has also played a key role in promoting regional integration and cooperation.
The WADB is a well-respected institution that has made a significant contribution to the development of West Africa. It is a valuable partner for governments, businesses, and other organizations working to improve the lives of people in the region.
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