- Definition in December 1990 of a « Strategy for the promotion and financing of the private sector »;
- In 1991, a special department was set up to promote and finance the private sector and implement its operational strategy;
- Diversification of refinancing lines and improvement of their utilization conditions (credit lines, specialized global advances, refinancing framework agreements and leasing lines);
- Support for the organization of the leasing profession, the creation in 1995 of the West African Association of Leasing Companies and the harmonization of the leasing tax regime;
- Contribution to the diversification and deepening of the Union’s financial system (establishment of CAURIS Investissement, CAURIS Croissance in 2006 and the GARI Fund in 1995, bond issues since 1993 and stimulation of the financial market, participation in the creation of the Bourse Régionale de Valeurs Mobilières and promotion of microcredit);
Support for the private sector
Convinced that the private sector must be the real engine of development and the main source of economic growth, wealth creation and employment in WAEMU countries, the WADB, in line with the economic policies adopted by most member states, has continually adapted, intensified and diversified its action in favor of the promotion and financing of private productive investment.
Main thrusts and milestones of BOAD's strategy for promoting and financing the private sector
- Adaptation of procedures for approaching the private sector (review of operational texts, acceleration of appraisal and creation of a project pre-selection committee);
- Strengthening technical assistance to private economic operators to improve the private sector environment (support for the definition of national strategies and the organization of private sector roundtables);
- Introduction of a guarantee product for corporate bond issues as part of BOAD’s role in structuring and building confidence in the regional financial market;
- Setting up a financial advisory, arrangement, financing, fund-raising and syndication service.
Since the start of its operational activities in January 1976, out of cumulative net commitments of 7,825 billion FCFA as at June 30, 2023, BOAD has devoted around 26.2%, or 2,046.3 billion FCFA, to the private sector.
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