Sustainable Procurement - Topic of presentation
to House of Commons and report in UK
Reported by David Shannon in London, UK
I was present by invitation at the launch on 4 June 2008 in the House of Commons of a report of the Westminster Sustainability Business Forum under the joint Chairmanship of David Kidney MP and Barbara Morton, Director, Action Sustainability.
“The result of their inquiry’s work is contained in a 40-page report “Costing the Future: Securing Value for Money through Sustainable Procurement”. This is available from www.policyconnect.org.uk/sustainability
The report lists 31 recommendations. These are grouped under the headings:
Notable examples of recommendations:
3. Governments must ensure that all aspects of sustainability – economic, social and environmental – are promoted through public sector procurement.
12. The Treasury must revise the shadow price of carbon and ensure that it is included in whole-life cost calculations in public sector procurement.
24. The Government should expand the Sustainable Operations on the Government estate targets to include all aspects of sustainability. Furthermore, the targets should cover all departments and non-departmental public bodies.
Speakers at the event who all gave examples of good practice included:
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Peter Ainsworth MP, Shadow Secretary of State for the Environment who spoke about the macro-context and political environment.
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William Jordan, Deputy Chief Executive, Office of Government Commerce talked about the changing role of OGC and their concern with sustainability.
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Tim Byles, Chief Executive, Partnership for Schools discussed financing issues regarding sustainability in the schools building programme.
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Amanda McIntyre, Board Member, New Local Government Network, and Strategy and Public Policy Adviser, Tomorrow’s People who emphasised the significance of the public sector estate.
The Westminster Sustainable Business Forum (WSBF), part of Policy Connect Sustainability, is a not-for-profit organisation, which seeks to provide effective dialogue between business and the government on important sustainability issues. The Forum brings together businesses who share a belief in the need to operate in an environmentally, socially and economically sustainable way and who understand that these concerns need to be incorporated into core business practices in order for companies to prosper in the long-term. Through its policy projects and events, the Forum seeks to inform the government’s sustainability agenda and overcome challenges faced by UK business in adapting more sustainable ways of operating. More at http://www.policyconnect.org.uk/content/sustainability/wsbf/aboutus.
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African Development Bank and Microsoft announce
Partnership to provide ICT access to Africa
The African Development Bank (AfDB) and Microsoft have signed an agreement in Tunis to work together to increase access to Information and Communication Technology (ICT) for all Africans. The objective of the new partnership is to bridge the digital divide that exists in Africa in two particular areas - between Africa’s different regions and countries, and between Africa’s main urban centres and its rural areas.
The signing was presided over by the Vice-President of the AfDB, Mr. Joseph Eichenberger and the Chairman for Microsoft in Africa, Dr. Cheick Modibo Diarra (shown in photo) at the temporary headquarters of the AfDB in Tunis.
Commenting on the partnership, Mr. Eichenberger said "This partnership intends to blend knowledge and best practice from both parties. When combined further with forward looking public policy from the governments of Africa, we are confident it will inject increased momentum to meeting developmental goals."
Cooperation between the two parties will focus on the use of technology to advance e-Government; ICT institutional capacity building; business capacity building; education and e-learning; ICT skills development, and the enhancement of technology access.
The global development community, composed of governments, international organizations, development banks and NGOs, is increasingly calling upon private sector expertise and resources to accelerate development on the African continent. The AfDB is at the forefront of this development and places public-private partnership at the core of its overall strategy which includes combating poverty and improving living conditions across the African continent.
"Our joint goal is to identify where ICT can be applied in innovative ways to support development goals - extending the scale and impact of solutions to transform education, drive local innovation, and foster jobs and opportunities," said Dr. Diarra. "Microsoft is proud to partner with the African Development Bank, as well as African governments, UN agencies, and other international organizations to share our core technology resources, solutions, and know-how to help them meet the greatest challenges of today."
The African Development Bank (AfDB) is an African development finance institution dedicated to combating poverty and improving the lives of people of the continent. The AfDB is engaged in the task of mobilizing resources for the economic and social development of its Regional Member Countries. The Bank Group’s primary objective is to promote sustainable growth to reduce poverty by financing projects and programmes in the RMCs through loans, equity investments and technical assistance. For more information, visit www.afdb.org.
Founded in 1975, Microsoft (Nasdaq "MSFT") is a global leader in software, services and solutions that help people and businesses realise their full potential.
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Ocean Wind Power Maps Could Accelerate Wind Farm Project
NASA has announced the availability of an important new tool to help harness the energy potential of Earth's ocean winds: global satellite maps. Scientists have been creating maps using nearly a decade of data from NASA's QuikSCAT satellite that reveal ocean areas where winds could produce wind energy. The new maps have many potential uses including planning the location of offshore wind farms to convert wind energy into electric energy
The research, published this week in Geophysical Research Letters, was funded by NASA's Earth Science Division, which works to advance the frontiers of scientific discovery about Earth, its climate and its future.
"Wind energy is environmentally friendly. After the initial energy investment to build and install wind turbines, you don't burn fossil fuels that emit carbon," said study lead author Tim Liu, a senior research scientist and QuikSCAT science team leader at NASA's Jet Propulsion Laboratory in Pasadena, Calif. "Like solar power, wind energy is green energy."
QuikSCAT, launched in 1999, tracks the speed, direction and power of winds near the ocean surface. Data from QuikSCAT, collected continuously by a specialized microwave radar instrument named SeaWinds, also are used to predict storms and enhance the accuracy of weather forecasts.
Wind energy has the potential to provide 10 to 15 percent of future world energy requirements, according to Paul Dimotakis, chief technologist at JPL. If ocean areas with high winds were tapped for wind energy, they could potentially generate 500 to 800 watts of energy per square meter, according to Liu's research. Dimotakis notes that while this is slightly less than solar energy (which generates about one kilowatt of energy per square meter), wind power can be converted to electricity more efficiently than solar energy and at a lower cost per watt of electricity produced.
According to Liu, new technology has made floating wind farms in the open ocean possible. A number of wind farms are already in operation worldwide. Ocean wind farms have less environmental impact than onshore wind farms, whose noise tends to disturb sensitive wildlife in their immediate area. Also, winds are generally stronger over the ocean than on land because there is less friction over water to slow the winds down - there are no hills or mountains to block the wind's path.
Ideally, offshore wind farms should be located in areas where winds blow continuously at high speeds. The new research identifies such areas and offers explanations for the physical mechanisms that produce the high winds.
An example of one such high-wind mechanism is located off the coast of Northern California near Cape Mendocino. The protruding land mass of the cape deflects northerly winds along the California coast, creating a local wind jet that blows year-round. Similar jets are formed from westerly winds blowing around Tasmania, New Zealand, and Tierra del Fuego in South America, among other locations. Areas with large-scale, high wind power potential also can be found in regions of the mid-latitudes of the Atlantic and Pacific oceans, where winter storms normally track.
NASA's Quick Scatterometer (QuikSCAT) was lofted into space on Saturday, June 19, 1999. The SeaWinds instrument on the QuikSCAT satellite is a specialized microwave radar that measures near-surface wind speed and direction under all weather and cloud conditions over Earth's oceans. SeaWinds uses a rotating dish antenna with two spot beams that sweep in a circular pattern. The antenna radiates microwave pulses at a frequency of 13.4 gigahertz across broad regions on Earth's surface. The instrument will collect data over ocean, land, and ice in a continuous, 1,800-kilometer-wide band, making approximately 400,000 measurements and covering 90% of Earth's surface in one day. The Jet Propulsion Laboratory (JPL) manages QuikSCAT for NASA. For more information about QuikSCAT, visit: http://winds.jpl.nasa.gov
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Tipping Points - IMF makes policy adjustments due to rising food and energy costs worldwide as poor countries pay dearly
According to the International Monetary Fund (IMF), the impact of surging food and fuel prices is being felt globally but is most acute for import-dependent poor and middle-income countries confronted by balance of payments problems, higher inflation, and worsening poverty. A new IMF study analyzes the macroeconomic policy challenges arising from the price surges, and argues that many governments will have to adjust policies in response to the price shocks. In addition, the international community will need to do its share to address this global problem.
"Some countries are at a tipping point," said IMF Managing Director Dominique Strauss-Kahn (pictured) at the release of the study. "If food prices rise further and oil prices stay the same, some governments will no longer be able to feed their people and at the same time maintain stability in their economies. They need good policy options and they need help from the international community. Their challenge is ours. It is to ensure adequate food supplies while preserving the poverty-reducing benefits derived in recent years from faster growth, low inflation, and better budget and balance of payments positions."
Mr. Strauss-Kahn said the findings of the study underscored the need for a broad cooperative approach involving the countries affected, donors, and international organizations to cope with the effects of high prices.
"Working closely with our member countries, the Fund has been actively involved in providing advice and financial support to address their urgent concerns and help mitigate the impact of this crisis," he said. "Every country is different and exact policy prescriptions will vary considerably. But the universal challenge for all poor and middle-income countries is to find ways to feed the hungry while maintaining hard-won macroeconomic stability."
Key findings of the multi-country survey—the first broad assessment of the impact of the price rises, include:
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Higher food prices have cost a group of 33 poor net food importers US$2.3 billion, or 0.5 percent of 2007 annual GDP, since January 2007. In the same period, the effect of rising oil prices on 59 low-income net oil importers was US$35.8 billion, or 2.2 percent of their GDP.
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Annual food price inflation for 120 low-income and emerging market countries rose to 12 percent at the end of March 2008 from 10 percent three months earlier, while fuel prices accelerated to 9 percent from 6.7 percent in the same period. Preliminary data indicate the problem is worsening.
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Poor countries that are highly dependent on food imports are particularly vulnerable to rising food prices. The share of household spending on food in emerging and developing economies typically exceeds 50 percent. The study found that low-income households are the most affected by food price inflation and warned that the share of undernourished in developing countries could rise rapidly above the current 40 percent of total population.
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Oil and food prices are expected to stay at high levels. Supply has been slow to respond to rising demand for commodities, which was largely the result of rapid economic growth in emerging and developing economies.
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The IMF has apparently been working closely with its member countries on fiscal, monetary and exchange rates, trade and other policy measures to alleviate the effects of higher prices. Taking into account country-specific conditions and priorities, the Fund announced the following policy actions and concerns:
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Fiscal policy. Policy measures need to reflect each county's economic situation and capacity to create fiscal space to combat the impact of higher costs. Some countries have the scope to loosen their fiscal positions while others may need to create fiscal space through raising revenues or cutting other expenditures, or securing external grants and concessional loans. The need for support from the international community is most pressing in countries that find it difficult to accommodate higher spending.
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Monetary and exchange rate policies. While the first-round effects of higher food and fuels prices on inflation should generally be accommodated, monetary policy should seek to avoid spillover to more generalized inflation. Food and fuels prices remaining at high levels will likely call for a real exchange rate depreciation for net food and fuels importers.
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Trade polices. Global food markets need to be kept open, with restrictive policies, such as export taxes and bans, removed to maintain appropriate incentives for producers and consumers. Tariff reductions can help to reduce trade distortions and mitigate price increases.
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Fund financing. The Fund has already provided additional financial assistance to seven low-income countries through the concessional Poverty Reduction and Growth Facility and is ready to support others as needed. It is also streamlining the Exogenous Shocks Facility to make it more useful to IMF members, and stands ready to provide support for middle-income countries through Stand-By Arrangements.
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Brazilian State Government of Espirito Santo creates
a Project Management Agency
Reported by Peter Mello in Brazil
The State of Espírito Santo in Brazil has created the State Secretary of Project Management (SEGEP - Secretaria de Estado de Gerenciamento de Projetos). It is a pioneer initiative in the Brazilian Public Administration and clearly demonstrates the intention of conducting government administration through modern management tools and techniques today restricted to the private sector.
There are 21 on-going projects for the Program “Pró-Gestão” for the areas of health, education, transportation and others, with a total of R$ 3,2 billion to be invested in the following four years.
According to the Project Management Secretary, Enio Bergoli, since 2003 the investments budget for the Government has increased 25 times and his mission is to “monitor the investments through modern tools, which in this case is Project Management, to ensure that deliveries to the society are in time and with superior quality”.
More information can be found at:
Maps: http://www.ijsn.es.gov.br/follow.asp?urlframe=cartografia/mapas_download.htm
Info: Leonardo@vice.es.gov.br (Press / SEGESP)
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11 Space Agencies Meet In Montreal To Discuss
Global Exploration Strategy For Humans In Space
Representatives of 11 space agencies from around the world gathered in Montreal during 10-12 July 2008 to continue the coordination of programs to extend human and robotic presence throughout the solar system.
In May 2007, multilateral space agency discussions resulted in the release of "The Global Exploration Strategy - The Framework for Coordination." The document is a product of a shared vision of space exploration focused on solar system destinations where humans may someday live and work.
It represents an important first step in coordinating space exploration efforts toward common goals. The framework envisions a coordination mechanism to facilitate international planning, leading to the establishment of the International Space Exploration Coordination Group, or ISECG.
During the ISECG meeting in Montreal, hosted by the Canadian Space Agency, the participants made significant progress on a number of areas that will facilitate cooperation. Among the accomplishments were establishing an ISECG secretariat to be initially hosted by the European Space Agency; plans for conducting effective public engagement; and development of tools for sharing information on exploration capabilities and mission plans across agencies. The participants also took initial steps toward identifying critical space infrastructure interfaces, such as between spacecraft, lunar rovers and lunar habitats, which if standardized would increase opportunities for international cooperation.
The agencies reaffirmed the importance of the steps taken in Montreal toward ensuring a comprehensive global approach to space exploration and maintaining an open dialogue as the space exploration architecture planning of individual space agencies moves forward.
Attending the meeting were representatives of Australia, Canada, the European Space Agency, France, Germany, Great Britain, Italy, Japan, the Republic of Korea, the United States and Ukraine. For more information on the Global Exploration Strategy, visit: http://www.nasa.gov/exploration
Source: NASA press release, 14 July 2008.
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Governance of Project Management -
APM Guides Available Online in UK
Reported by David Shannon in London, UK
Directing Change: A Guide to Governance of Project Management and Co-Directing Change: A Guide to the Governance of Multi-Owned Projects are available from the Association for Project Management (APM) in the UK. These two guides have been published by the APM as part of the industry-wide reaction to the various scandals that rocked both UK and America over the last few years in respect of corporate governance. They cover the application of governance requirements to non-recurring activities of organisations. They reference both the UK Combined Code and the USA Sarbanes-Oxley Act. Over 80,000 copies have been distributed worldwide.
Many industrial and commercial sectors have made use of the guides. A particularly interesting review has been prepared by Derryn Rolfe a member of the UK Institution of Chemical Engineering who is also a trained solicitor. Her full assessment is published in the IChemE project management journal, Projection. This review is summarised below.
The purpose of the first Guide is "to influence directors and others to adopt excellent practices regarding the governance of programme and project management activities". The Guide has been drafted by a panel of APM members and the Forward is by Sir Bob Reid and Sir John Bourn KCB in which that they state that the discipline of project management has come of age. The Forward goes on to note that whilst good practice in directing and managing project work is increasingly evident, in many organisations there remains a gap in the governing surveillance of project activities.
The Guide lists 42 questions which Boards of Directors or their equivalents should ask to satisfy themselves and their stakeholders in respect of their project portfolio.
The Guide states that adherence to its principles will help Boards of Directors to:
"assure themselves and others that robust governance requirements are applied across the project managing their organisations;
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optimise their portfolio of projects;
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avoid many common failures in project and programme performance;
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motivate their staff, customers and suppliers on the basis of better communication;
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minimise a risk to the organisation arising from projects;
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maximise benefits to be realised from projects; and
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assure the continued development of the organisation."
Whilst this seems an ambitious aim for any Guide, and particularly for one which runs to amere 18 pages, the questions in respect of portfolio direction, projects sponsorship, effectiveness and efficiency of project management and disclosure and reporting are questions that all projects and all project managers should be asking of themselves before and during their projects.
The Guide clearly lays out the context of governance of project management as well as the principles or governance of the project management, and in respect of the latter it considers that there are four main components:
The thinking behind the principles and the thinking that has gone into the drafting of this brief Guide is clear and practical, and whilst not all companies will find themselves able to comply with all things all of the time, undoubtedly most companies should try to do so. It is recommended that project managers read this Guide as part of their own professional development and in order to assist in the better running and governance of their organisations.
The second Guide addresses similar issues but in respect of multi-owned projects and programmes. Its intended audience includes those with influence over the development of corporate governance arrangements or their implementation, and it addresses the key question "how can boards be assured that appropriate governance arrangements are in place for projects in which they share ultimate control with other parties?" starting from the premise that each such organisation probably has different arrangements which need to be meshed for the purposes of the project.
For each of the 12 principles identified, the Guide examines the meaning and issues and sets out a number of questions designed to help boards identify what is relevant to them. These questions are clear and concise and would definitely pin-point where there needs to be thought or work in aligning the individual organisations to achieve project success and in setting up the project structures to deal sensibly with matters likely to arise.
Whilst the Guide is about multi-owned projects, the questions asked are those that should be asked of every project - for example, risk and reward apportionment or evaluation and justification of the business case -and for this, if no other, reason this Guide should be on the bookshelf of every project manager.
Directing Change: A Guide to Governance of Project Management (ISBN1-903494-15-X 2005) and Co-Directing Change: a guide to the governance of multi-owned projects (ISBN-10: 1-903494-94-X 2007) are available from the Association for Project Management in High Wycombe, telephone 0845 458 1944, www.apm.org.uk/gopm.
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Heads of Major Space Agencies Issue Joint Statement
in Paris on Future of International Space Station
The heads of the International Space Station (ISS) agencies from Canada, Europe, Japan, Russia and the United States met at European Space Agency (ESA) Headquarters in Paris on July 17, 2008, to review ISS cooperation. As part of their discussions, they noted the significantly expanded capability that the ISS now provides for on-orbit research and technology development activities and as an engineering test bed for flight systems and operations that are critical to future space exploration initiatives. These activities improve the quality of life on Earth by expanding the frontiers of human knowledge.
The Heads of Agency noted the significant accomplishments since their last meeting in January 2007, including the delivery of:
Node 2 (Harmony),
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two new laboratories (the ESA Columbus Module and the Japanese Experiment Module Kibo), and
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Dextre, Canada's two-armed special purpose dexterous manipulator.
In addition to the completion of six challenging ISS assembly missions with the U.S. Space Shuttle, the Heads of Agency recognized the maiden flight of the European Automated Transfer Vehicle, the establishment of the global ISS ground operation control center network with the addition of new European and Japanese ISS operations centers and the successful flights of Russian Soyuz and Progress vehicles. The Partners emphasized the critical importance of expanded operations of Russian Soyuz and Progress vehicles for ISS total crew transportation, rescue and cargo delivery.
Current ISS development, configuration and operations activities across the partnership were also reviewed during the meeting.The leaders considered implementing plans to maximize the benefits from the increase to a six-person crew in 2009 and discussed efforts to ensure that essential space transportation capabilities (both crew and cargo) will be available across the partnership for the life of the program. The Partners acknowledged the need for the additional Russian modules to be provided in 2009 and 2010 that will maximize six-person ISS operations and utilization.
The Heads of Agency discussed their respective ongoing activities to enhance upmass and downmass transportation capabilities required for a robust utilization of the ISS and for preparing capabilities for the future. These include Japan's H-2 Transfer Vehicle in the next year, the U.S. Commercial Orbital Transportation Services and the U.S. Orion Crew Exploration Vehicle; together with the current operational vehicles, the U.S. Shuttle (up to 2010), Russian Soyuz and Progress, and ESA Automated Transfer Vehicle. These capabilities will respond to the ISS operations and utilization requirements. They also noted new initiatives such as the ESA plan for an Automated Transfer Vehicle-Advanced Return Vehicle system for downmass from the ISS and the Russia-ESA joint preparatory activities on an advanced Crew Space Transportation System. The Heads of Agency expressed their interest in making these capacities available for the benefit of the whole partnership and can provide sustainability of the ISS and prepare for future exploration endeavors.
As the partnership moves closer to completion of ISS assembly, the Heads of Agency reaffirmed their common interest in utilizing the space station to its full capacity for a period meaningful for stakeholders and users. The Partners noted that a continuation of operations beyond 2015 would not be precluded by any significant technical challenges. Recognizing the programmatic benefits to continued ISS operations and utilization beyond the current planning horizon, the Heads of Agency committed to work with their respective governments to assess support for such a goal.
For the latest about the International Space Station, visit the Internet at: http://www.nasa.gov/station.
Source: NASA press release, July 17, 2008
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US Senate Triples Funding for Global AIDS Fight
The US Senate has given a major boost to a program to combat AIDS and malaria around the world,voting to triple funding for a cause championed by President George W.Bush.
The Senate on 16 July voted 80 to 16 to authorize $48 billion over the next five years - $18 billion dollars more than Bush had requested - for the program, which also includes funds to battle tuberculosis. 'This bill will expand American leadership on global health and foster hope around the world....' said Paul Zeitz, Executive director of the Global AIDS Alliance...." [Agence France Presse/Factiva]
(Photo: Capital building where US Senate meets.)
The Associated Press (AP) reported that the statement "...said that when the program was launched in 2003, about 50,000 people in sub-Saharan Africa were receiving anti-retroviral treatment for HIV/AIDS. Today, the program supports lifesaving anti-retroviral treatment for more than 1.7 million people around the world, he said. It also has supported treatment and prevention programs that have helped HIV-positive women give birth to nearly 200,000 infants who are HIV-free."
The bill passed by the US House of Representatives in April approved $50 billion, including $5 billion for malaria, $4 billion for tuberculosis and $41 billion for AIDS. Of the AIDS money, a proportion -- $2 billion next year -- would go to the international Global Fund to Fight AIDS, Tuberculosis and Malaria. Actual spending levels still have to be approved in annual appropriations bills.
Source: World Bank Press Review, July 17, 2008.
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World Bank Announces First Rand-Based Program Loan in Africa
Reported by Jaycee Kruger in South Africa
The World Bank has announced that for the first time it has disbursed a loan in one of Africa's local currencies. The 58.2 million South African Rand (ZAR) loan is to support the Government of Namibia in its educational improvement program. The South African and Namibian currencies are equivalent. The loan included a conversion of the originally dollar denominated USD 7.5 million loan which took place on July 15, 2008 and is the first time the World Bank has provided a Rand-denominated financing to any country.
The transaction is part of the World Bank’s response to requests from borrowing countries to provide flexible financial products in support of risk management. "This is particularly the case in Middle Income Countries, like Namibia, which are looking for additional flexibility from the World Bank in terms of lending instruments. Borrowing in Rand represents a lower risk for the country," according to Mmantsetsa Marope, World Bank Team Leader for the Namibia lending operation.
The First Development Policy Loan specifically supports the first implementation phase of Namibia’s Education and Training Sector Improvement program (ETSIP1), a five-year sector program estimated to cost about US$357 million. The loan constitutes about 14 percent of the funds required for the first year of ETSIP1. The rest will be financed by the Government of the Republic of Namibia, national development partners and international development partners.
The loan will support (i) the development of specific policies and policy instruments to guide and give effect to planned sector reforms; (ii) legal instruments to enforce policy implementation; and (iii) institutional capacities required for effective implementation of planned sector reforms.
This program is consistent with the Bank’s Africa Action Plan (AAP) flagship goal of building skills for competitiveness in a global economy that supports activities that accelerate the attainment of education Millennium Development Goals (MDGs), build skills to promote growth, strengthen partnerships, and strengthen partner countries’ capacity to design, implement and monitor their own sector development plans and programs.
For more information, please visit www.worldbank.org/namibia.
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Projects in West Africa to Benefit from New
Development Bank Agreement
The African Development Bank Group (AfDB) and the West African Development Bank (BOAD) have announced a financial agreement comprising an equity participation, a line of credit and an institutional support amounting to CFAF 28.7 billion. The Agreement was signed in Tunis on 22 July 2008.
The AfDB package comprises a CFAF 2 billion participation in BOAD's capital increase, a CFAF 26.24 line of credit and a CFAF 549 billion to BOAD's 2006-2010 investment programme. This is in line with the Bank Group's vision for poverty reduction and regional economic integration in Africa. It is also in line with the Bank Group's private sector development strategy which places emphasis on promoting partnerships with sub-regional development finance institutions.
The agreement was signed by the Bank Groups Vice President for Operations, Infrastructure, Private Sector and Regional Integration; Mandla S. Gantsho and BOAD President, Abdouolaye Bio-Tchane (pictured)
Speaking on the occasion, Mr. Gantsho described the BOAD as "a high-performing sub-regional development finance institution which is successfully executing its mission of financing the development of WAEMU (West African Economic and Monetary Union) member states." He expressed the hope that the assistance would enable BOAD to scale up its activities to boost economic growth in its member countries.
The line of credit will finance projects in agribusiness, the manufacturing industry, mining, and services (hotel, trade and telecommunications).It is expected to generate many economic benefits, such as jobs, add value to products and develop exports, thereby improving living conditions in the WAEMU zone.
The Institutional support will enable BOAD to establish sound management practices that will help its financial performance. It will thus become a partner of the Bank in the financing of development by serving as a banking intermediary of the private sector in the WAEMU zone.
WAEMU was created by a treaty signed in Dakar, Senegal, on January 10, 1994 by the Heads of State and Government of Benin, Burkina Faso, Côte d'Ivoire, Mali, Niger, Senegal, and Togo. On May 2, 1997, Guinea-Bissau became its eighth member state.
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