The initiative aims to provide vital financial support for climate change adaptation and mitigation projects in eight West African nations: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
The Climate Study Fund will offer grants to fund feasibility studies, technical assistance, and capacity-building activities related to climate-resilient infrastructure development and green growth initiatives.
The fund seeks to unlock larger investments in climate-smart solutions and accelerate the region’s transition to a low-carbon economy.
The Climate Study Fund aligns with BOAD’s broader climate finance strategy, which aims to mobilize €1.5 billion by 2025 to support climate-related investments across its member states.
The bank recognizes the disproportionate impact of climate change on West Africa, which is characterized by increased droughts, floods, and rising sea levels.
These challenges threaten food security, water availability, and economic development, highlighting the urgent need for effective climate action.
Specialist agricultural investor AgDevCo has announced a $9.5 million mezzanine loan investment in Agventure, a Kenyan farmer-owned business pioneering regenerative agriculture in non-irrigated cereal-based systems.
The African Development Bank Group (AfDB) has approved a Zambian Kwacha-backed Risk Sharing Credit Guarantee worth $32 million to help finance Zambeef Products Plc’s $100 million expansion plan in Zambia.
GOGO Electric has secured a revolving working capital facility from the Africa Go Green Fund (AGG), managed by Cygnum Capital, to boost electric motorbike production in Uganda.
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