During the closed meeting the Board decided to accredit the Banque Ouest Africaine de Développement (BOAD), subject to the following conditions:

(a) That BOAD includes an internal control statement with the financial statements, starting with the statements of 2011; and

(b) That BOAD have in place an investigative function that reflects its needs, and the practices of other development banks, before the first disbursement is made by the Adaptation Fund and that the effectiveness thereof will be reviewed after two years by the Panel.