The West African Development Bank (BOAD) has reaffirmed its commitment to promoting energy transition and sustainable agriculture in the region. In a bid to address these critical issues, the bank organized the inaugural BOAD Development Days in Lomé, Togo from 12 to 13 June. The event brought together experts in finance, green energy, and agriculture to discuss the theme of “Financing the Energy Transition and Sustainable Agriculture – Challenges, Opportunities, and Solutions.”
BOAD President, Mr. Serge Ekué, emphasized the need to reevaluate project financing in light of global and regional challenges such as climate change, rapid urbanization, and food insecurity. He highlighted the importance of creating a platform for dialogue and solutions to drive sustainable development within the West African Economic and Monetary Union (WAEMU) region.
Economist and former Prime Minister of Benin, Lionel Zinsou, delivered a keynote address calling for a structural transformation of the regional financing ecosystem. He stressed the need to introduce alternative sources of financing and support innovative approaches like those championed by BOAD.
The event identified promising avenues and innovative solutions including blended finance, public-private partnerships, and the integration of Fintech to address the underfunding of the energy and agriculture sectors in WAEMU. Participants urged member states to strengthen their macroeconomic frameworks through reforms and incentive-driven policies to attract more private investment in these critical sectors.
Under its Djoliba Strategic Plan (2021–2025), BOAD has made significant progress in injecting fresh impetus into key development sectors. The plan prioritizes renewable energy and sustainable agriculture to achieve long-term food security and economic resilience. As the Djoliba plan nears its completion, the bank has achieved 98.8% of its financing targets, channeling over 3,310 billion CFA francs into WAEMU economies.
Resource mobilization has exceeded expectations, with 4,510 billion CFA francs raised, including 2,064 billion from external partners. The bank, established in 1973, continues to support WAEMU member states and local stakeholders in achieving priorities such as quality education, healthcare access, renewable energy, resilient agriculture, climate resilience, and food security.
In conclusion, BOAD’s commitment to sustainable development and innovative financing solutions underscores its pivotal role in driving energy transition and sustainable agriculture in West Africa. The success of the BOAD Development Days highlights the importance of collaboration and dialogue in addressing pressing regional challenges.
