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:
“It is the mission of the twentieth century to elucidate the irrational.”
—Maurice Merleau-Ponty (1907–1961)
“The mission of the United States is one of benevolent assimilation.”
—William McKinley (1843–1901)
“We can come up with a working definition of life, which is what we did for the Viking mission to Mars. We said we could think in terms of a large molecule made up of carbon compounds that can replicate, or make copies of itself, and metabolize food and energy. So that’s the thought: macrocolecule, metabolism, replication.”
—Cyril Ponnamperuma (b. 1923)