BOAD II

closed

The proposed project would provide a US$19 million line of credit in support of BOAD's operations and US$1.0 million for technical assistance. It represents a logical follow-up to the previous Bank Group support to BOAD, and would have three major objectives. First, by providing a line of credit, it would be serving the purpose of regional cooperation. Second, by extending additional technical and financial assistance to BOAD, it would help strenghten further an institution which has demonstrated its ability to manage its resources efficiently. Thirdly, World Bank Group support would help BOAD attract resources from other donors and further expand its operations. The main benefits of the project would derive from the strengthening of the institution which by its proximity and intimate knowledge of the area, its lower manpower costs, and most importantly its deep commitment to regional integration and development, constitutes a most suitable vehicle for channelling external resources for projects otherwise difficult to handle either by the Bank Group or other aid agencies.