The Board of Directors of the West African Development Bank (BOAD) has recently concluded its 137th ordinary meeting, where several significant decisions were made. Chaired by Mr. Serge Ekue, President of BOAD, the meeting saw the approval of loans for various projects aimed at advancing clean energy and infrastructure development in the West African region.
One noteworthy project that received approval is the construction and operation of a 30 MW photovoltaic solar power plant with a 15 MW/45 MWH storage system in Senegal. This initiative, led by Teranga Niakhar Storage, will greatly enhance the country’s power supply and contribute to a more reliable and secure energy grid. The project showcases BOAD’s commitment to renewable energy and sustainable development in the region.
In addition to the solar power plant, loans were also approved for other infrastructure projects. These include the construction of storage spheres and a butane gas filling center in Côte d’Ivoire, the development of the Bouake-Kanawolo highway in Côte d’Ivoire, and the improvement of infrastructure and systems for the Diamniadio-AIBD section of the Regional Express Train (TER) in Senegal. These projects aim to support economic growth, improve transportation, and reduce congestion in the region.
Furthermore, BOAD decided to invest in the capital increase of the Société de Promotion et de Participation pour la Coopération Économique (PROPARCO), which will strengthen PROPARCO’s financial structure and contribute to economic development in the region.
BOAD’s approval of these loans and credit facilities demonstrates its dedication to supporting critical infrastructure and clean energy projects that will drive economic growth and improve living conditions in West Africa. It highlights the growing importance of clean energy initiatives in the region and sets the foundation for a greener and more sustainable future.
Sources:
– (1) Source article: “BOAD : la BOAD approuve des prêts destinés aux projets sur l’énergie et l’infrastructure#” (Source: Agence de Presse Africaine, Date: March 25, 2021)
– (2) Definitions:
– BOAD: West African Development Bank
– Photovoltaic: relating to the production of electric current at the junction of two substances exposed to light
– Infrastructure: the basic physical and organizational structures and facilities needed for the operation of a society or enterprise
– Proparco: Société de Promotion et de Participation pour la Coopération Économique, a subsidiary of Agence Française de Développement (AFD) specializing in private sector development in emerging and developing countries.