La BOAD prévoit une enveloppe annuelle de 50 milliards de F CFA pour le climat d’ici à 2021

The West African Development Bank (BOAD) plans to mobilize 50 billion CFA francs each year to finance projects related to climate change, including the promotion of renewable energies.
According to the Beninese Christian Adovelande, president of the bank based in Lomé (Togo), “the institution undertook various steps to increase the portfolio of climate projects likely to be subject to the financial mechanisms of the United Nations Framework Convention on Human Rights. Climate Change (UNFCCC) with which we are accredited “.
The objective is to increase the mobilization of climate resources to 50 billion FCFA per year by 2021.
According to the top management, the financial institution credited with an investment grade profile can take advantage of the beginnings of this ambition.
Indeed, according to Mr. Adovelande, the first results were obtained in 2017, with the mobilization of climate resources in the form of a donation of 1.3 billion CFA francs to the Global Environment Facility (GEF) in favor of promotion of renewable energies in Togo, and 4.9 billion FCFA from the Adaptation Fund (FA) for the promotion of climate-smart agriculture in Guinea-Bissau.
Since 2003, environmental issues have been at the center of BOAD’s operations.
As a reminder, the Financing for Development Bank announced recently to have crossed the $ 5 trillion mark for the 8 WAEMU countries.