Washington, 19 June 2024. During the 67th GEF Board meeting, the West African Development Bank (BOAD), an accredited entity to the Global Environment Facility (GEF), has got approval for three concept notes on projects totalling US$29 million (XOF17 billion), in three WAEMU countries including Benin, Burkina Faso and Mali.
The three concept notes were developed by BOAD, in conjunction with UNEP and the World Bank, as part of the climate resilience and sustainable development projects in Benin, Burkina Faso and Mali. They align with the integrated Sustainable Cities Programme and the Large-Scale Investment Transformation Approach, supporting the implementation of the Great Green Wall Initiative (TALSISI-GGWI). The projects include (i) the Grand Nokoué greening programme in Benin, aimed at improved vegetation cover and enhanced biodiversity in the Grand Nokoué area; (ii ) the climate adaptation and resilient agriculture project in the Central Plateau in Burkina Faso, focused on building the resilience of agricultural practices to climate change; and (iii ) the integrated climate adaptation and resilience project (PAREC) in Mali, aimed at building the capacities of local communities through integrated natural resource management initiatives.
Approval of these three concept notes marks an important step forward in achieving the objectives of Area 3 of BOAD’s 2021-2025 strategic plan, « Building greater resilience to climate change ».
The next step involves developing comprehensive proposals for each project in partnership with local and international stakeholders to ensure their effective and efficient implementation. BOAD will work closely with UNEP and the World Bank to mobilize adequate resources to ensure a successful implementation of these projects.
Mr. Moustapha Ben Barka, BOAD Vice-President for Financing and Investment, commenting on the decision declared: “BOAD is grateful to the Global Environment Facility (GEF) for its unwavering support, as it continues to work towards the achievement of global environmental and climate objectives. The approval of these three concept notes for projects based in our member countries confirms the commitment and willingness of WAEMU member countries to support our region’s journey towards a fair and sustainable green transition that will benefit our communities.”
About the West African Development Bank
The West African Development Bank (BOAD) is the common development finance institution of the member countries of the West African Economic and Monetary Union (WAMU). It is an international public institution whose purpose, as provided under Article 2 of its Articles of Association, is to promote the balanced development of its member countries and foster economic integration within West Africa by financing priority development projects. It is accredited to the three climate finance facilities (GEF, AF, GCF). Since 2009, BOAD sits as an observer at the UNFCCC and actively participates in discussions on devising an international climate finance system. Since January 2013, it has been home to the first Regional Collaboration Centre (RCC) on Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects. As from 15 October 2023, the Bank has been co-chairing alongside Bancoldex, the Colombian Business and Export Development Bank, the International Development Finance Club (IDFC), which brings together 26 national, regional and bilateral development banks from around the world.
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