Mission
The BOAD released a revised mission statement in 2001, refocusing their funding on three development goals: poverty reduction, economic integration and promotion of private sector activity. The bank disburses long- and medium-term loans, previously available only to BOAD member governments and public institutions, are since 2002 also offered to private businesses involved in development projects of regional importance as well as lines of credit to finance Micro-credit projects and small to medium private enterprises. The BOAD also funds debt-relief programs to member governments with the agreement that funds are instead diverted to health programmes particularly those dealing with HIV/AIDS, education and infrastructure improvements.
Read more about this topic: West African Development Bank
Famous quotes containing the word mission:
“Not in vain is Ireland pouring itself all over the earth. Divine Providence has a mission for her children to fulfill; though a mission unrecognized by political economists. There is ever a moral balance preserved in the universe, like the vibrations of the pendulum. The Irish, with their glowing hearts and reverent credulity, are needed in this cold age of intellect and skepticism.”
—Lydia M. Child (1802–1880)
“When you’re dealing with monkeys, you’ve got to expect some wrenches.”
—Alvah Bessie, Ranald MacDougall, and Lester Cole. Raoul Walsh. Captain Nelson, Objective Burma, giving a subaltern a mission (1945)
“It is the mission of the twentieth century to elucidate the irrational.”
—Maurice Merleau-Ponty (1907–1961)