Tunis, August 27, 2022, the West African Development Bank (BOAD) and the Japan Bank for International Cooperation (JBIC)represented by Governor Hayashi Nobumitsu, signed a memorandum of understanding to promote environmental and social sustainability in WAEMU countries. and support for development projects in which Japanese companies are directly or indirectly involved in the area. The signing took place on the occasion of the eighth Tokyo International Conference on African Development (TICAD 8), held in Tunisia.
In August 2019, on the occasion of the seventh Tokyo International Conference on African Development (TICAD) 7) held in Yokohama, Japan, JBIC and BOAD signed a memorandum of understanding for the promotion of investments between Japan and West African countries. The memorandum of understanding signed on the occasion of the eighth edition (TICAD 8) reinforces the cooperation established between JBIC and BOAD. It aims to support structuring projects in West Africa with the participation of Japanese companies that will contribute to environmental preservation through an exchange of information between JBIC and BOAD on potential environmental preservation solutions, including the reduction of greenhouse gas emissions.
As the joint development financing arm of the UEMOA member states, the WADB is actively involved in setting up and maintaining agreements aimed at strengthening international collaboration with foreign bodies likely to create new business opportunities for the West African states.
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About Japan Bank for International Cooperation
The Japan Bank for International Cooperation (JBIC) is a financial institution wholly owned by the Japanese government. Established on April1, 2012 JBIC is a bank with share capital of one thousand two hundred and ninety-one billion (1,291,000,000,000) yen, headquartered at 4-1 Ohtemachi 1-chome, Chiyoda-ku, Tokyo 100-8144, Japan. It is headed by its Governor, Mr Nobumitsu Hayashi.
About West African Development Bank
The Banque Ouest Africaine de Développement (BOAD) is the joint development finance institution of the countries of the West African Monetary Union (WAMU). According to Article 2 of its Articles of Association, the BOAD’s purpose is to “promote the balanced development of member states and achieve economic integration in West Africa” by financing priority development projects. It is accredited with the three climate finance mechanisms (GEF, AF, GCF). Since 2009, BOAD has been an observer at the UNFCCC and has played an active role in discussions concerning the construction of an international architecture for climate finance. Since January 2013, it has been home to the first Regional Collaboration Center (CRC) on the Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects. The Bank is a member of the International Aid Transparency Initiative (IATI), a global initiative aimed at improving the transparency of resources allocated to development and humanitarian action and their results in the fight against crises and poverty. WWW.BOAD.ORG