2023-05-25 20:20:21
Sharm El-Sheikh, May 25, 2023 – The Managing Director of Africa50, Alain Ebobissé, and the President of the West African Development Bank (BOAD), Serge Ekué, today announced a partnership aimed at mobilizing capital from institutional investors for African infrastructure, and to identify projects for co-financing.
As part of this partnership, the two entities have renewed their commitment to collaborate for the financing and development of bankable projects, including infrastructure resilient to climate change, in order to support the sustainable growth and energy transition of African countries.
The announcement was made on the sidelines of the African Development Bank Group’s Annual Meetings in Egypt, themed ‘Mobilizing Private Sector Finance for Climate and Green Growth in Africa’.
This collaboration aims to help bridge Africa’s significant infrastructure financing gap by providing rapid and effective investment to meet the continent’s growing development needs.
On the occasion of this announcement, Alain Ebobissé, Managing Director of Africa50, said: “We are happy to join forces with those of BOAD to carry out transformative projects in Africa. This kind of collaboration, led by Africans, is key to accelerating the continent’s inclusive growth, fostering regional integration and developing climate-resilient infrastructure. We are delighted to bring our extensive expertise in terms of project development and financing, to catalyze more capital, from the private sector and institutional investors in Africa and around the world. Together, we will allow to increase and accelerate the realization of projects which will create new opportunities, for the African populations”.
Africa50 and BOAD will identify a pipeline of projects that the two entities might finance, and plan to collaborate in the implementation of the Alliance for Green Infrastructure in Africa (AGIA), which was launched at COP27 by the African Union Commission, African Development Bank (AfDB) and Africa50.
Serge Ekué, President of the West African Development Bank, BOAD, underlined: “Access to energy resources is one of the major challenges of the WAEMU zone, in its march towards inclusive and sustainable development. It is, in fact, almost 50%, half of the populations of our area, who do not have access to electricity. The BOAD-Africa50 strategic partnership offers a solution, paving the way for the financing of innovative projects, transforming Africa, and promoting the emergence of a green economy on our continent. »
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