In the Energy and Natural Resources sector, BOAD's objective is to make energy available in sufficient quality and quantity to the populations and industries of WAEMU countries, by reducing the cost of electricity production; increasing the rate of access to electricity; reducing the energy deficit by increasing production and promoting regional interconnections; and improving the performance of the various sectors of the economy of WAEMU countries.
BOAD financing has contributed not only to increasing energy production capacity in member states, but also to the construction of more than 3,500 km of interconnection power lines between them, as well as the reinforcement of generation, transmission and distribution facilities on inter-state networks, for a total capacity of more than 1,350 MW.
As at March 31, 2023, total BOAD financing in the energy and natural resources sector amounted to FCFA 1,189.55 billion.
In order to deal more effectively with the recurring energy crises in several UEMOA member states, the Conference of Heads of State and Government decided in January 2008 to set up a commission to propose a strategy entitled « Regional Initiative for Sustainable Energy (IRED) ».
With low prices and within the framework of a vast, integrated and harmonized West African electricity trading market. This regional market would be based on a dynamic public-private partnership. IRED also targets an increase to 82% in the proportion of renewable and sustainable energies in the WAEMU’s power generation mix by 2030.
The institutional and financial arrangements for implementing IRED include a concessional Energy Development Fund (FDE) and a private-sector investment fund, the Infrastructure Fund.
Set up on September 25, 2009, the FDE’s purpose is to help improve access to energy in WAEMU member states and promote sustainable energy development by financing IRED-eligible projects on concessional terms. It is managed by BOAD.
FDE began operations in the first half of 2010. As of December 31, 2016, 14 energy projects had been financed in the form of FDE loans, for a total amount of FCFA 229.7 billion.
It is dedicated to private investment. It is a profit-making fund designed to finance electricity infrastructure in the WAEMU, according to market terms and conditions. It is also intended to finance the restructuring of electricity companies, the emergency program and medium- and long-term projects. It will be a lever for public-private partnerships in the electricity sector in the UEMOA zone. Due diligence is currently underway at BOAD.
380 MW
Additional capacity to improve the rate of electrification and energy supply in the WAEMU by 2025
Director, Department of Energy and Natural Resources
Address: 68 avenue de la Libération, Lomé, Togo
eMail: otembely@boad.org
Telephone: +228 22 21 59 06 / +228 22 21 26 61
