COP28/Dubai: BOAD Establishes Climate Studies Fund
The West African Development Bank (BOAD) launched the Climate Studies Fund (CSF) on Sunday, November 3, 2023, to reinforce its commitment to green financing in the sub-region.
This new initiative, unveiled in Dubai alongside the 28th United Nations Climate Change Conference (COP 28), aims to attract more financial resources dedicated to climate action for the benefit of the member countries of the West African Economic and Monetary Union (UEMOA).
Following this, the sub-regional financial institution secured a funding agreement worth €15 million with the French Development Agency (AFD) to support the new fund.
The signing of the agreements took place between BOAD President, Mr. Serge Ekue, and the Director-General of AFD, Rémy Rioux. These resources will finance the CSF and the Rapid Impact Emergency Program known as the SONGTAABA Program.
President Serge Ekue and Director-General Rémy Rioux expressed their satisfaction with the realization of this commitment made by the AFD.
Present at this ceremony representing the UEMOA Commission for Agriculture, Kako Nubukpo, Commissioner for Agriculture within the commission, stated that « this fund is an important instrument that complements and strengthens the regional landscape of tools available to our member states to support them in mobilizing the required finances, in line with our sustainable development ambitions. »
Presidents Abdoulaye Diop and Serge Ekue, alongside Commissioner Nubukpo and World Bank Vice President Ousmane Diagana, were present at the BOAD Pavilion.
