The West African Development Bank (BOAD) and the Japan Bank for International Cooperation (JBIC) represented by its governor Hayashi Nobumitsu, signed, on Saturday August 27 in Tunis, a memorandum of understanding for the promotion of environmental and social sustainability in WAEMU countries and support for development projects in which Japanese companies are directly or indirectly involved in the area. This signing took place on the occasion of the eighth Tokyo International Conference on African Development (TICAD 8) held in Tunisia.
According to a press release, the renewal of the memorandum of understanding between BOAD and JBIC signed last Saturday in Tunis, on the sidelines of the eighth Tokyo International Conference on African Development (TICAD 8), is part of as part of the promotion of projects between Japan and West African countries.
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. Thus, this memorandum of understanding signed on the occasion of the eighth edition (TICAD 8), according to the document, strengthens 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 the preservation of the environment, through an exchange of information between JBIC and BOAD on potential solutions for the preservation of the environment, including the reduction of greenhouse gas emissions. As a common body for financing the development of WAEMU member states, BOAD works actively for the establishment and preservation of agreements that aim to strengthen international collaboration with foreign bodies likely to create new opportunities. business for West African States.
All regarding JBIC and BOAD
The Japan Bank for International Cooperation (JBIC) is a financial institution wholly owned by the Japanese government. Created on 1is April 2012, it is a bank with registered capital of one thousand two hundred and ninety-one billion (1,291,000,000,000) Yen, headquartered in Japan. It is headed by Mr. Nobumitsu Hayashi.
The West African Development Bank (BOAD), for its part, is the common institution for financing the development of the States of the West African Monetary Union (UMOA). A public institution of an international nature, BOAD’s purpose, under the terms of Article 2 of its statutes, is ” to promote the balanced development of the Member States and to achieve the economic integration of West Africa » by financing priority development projects. It is accredited with the three climate finance financing mechanisms (GEF, AF, GCF). Since 2009, BOAD sits as an observer at the UNFCCC and actively participates in discussions relating to the construction of an international climate finance architecture. Since January 2013, it has housed the first Regional Collaborating Center (RCC) on the Clean Development Mechanism (CDM), the aim of which is to provide direct support to governments, NGOs and the private sector, for the identification and the development of 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 once morest crises and poverty.
El Hadj Moussouloumi BOUKARI
