Abidjan, May 10, 2022. Mr Ibrahima DIOUF, Special Advisor representing the President of the West African Development Bank (BOAD) and Ms Helena McLeod, Deputy Managing Director of the Global Green Growth Institute (GGGI), signed a memorandum of understanding on the sidelines of the COP15 meeting on desertification held in Côte d’Ivoire.
This partnership framework will facilitate cooperation, understanding and collaboration between the parties to achieve their goals and objectives concerning the African Union’s Agenda 2063, the implementation of the Paris Agreement through Nationally Determined Contributions (NDCs), the Sustainable Development Goals (SDGs), support for the implementation of the country strategy and action plan on biodiversity, climate change and green growth, as well as the mobilization of climate finance including project co-financing.
These specific objectives include (i)the joint formulation of climate projects and programs through the development of concept notes, requests for project preparatory funds and complete financing proposals; (ii) mobilizing climate finance through UN financial mechanisms such as the Adaptation Fund (AF), the Global Environment Facility (GEF) and the Green Climate Fund (GCF).
For the record, BOAD has been chosen by the Côte d’Ivoire National Designated Authority as the implementing entity of the Green Climate Fund (GCF) for the e-mobility project, at a total cost of USD 238 million. As part of this project, the GGGI is responsible for implementing components 4 and 5, entitled respectively “Governance framework, policies and regulations conducive to e-mobility adoption” and “Demonstration in support of e-mobility infrastructures”.
By signing this Memorandum of Understanding, the two institutions reiterate their commitment to preserving the environment, combating climate change, promoting green growth and formulating climate projects.
For further information :
West African Development Bank
Communication and Public Relations Department
Tel : + 228 22 23 25 65
Fax : + 228 22 23 24 38
Email : boadsiege@boad.org
GGGI Côte d’Ivoire Country Office │Bureau National Côte d’Ivoire
Building A, Ministry of the Environment, Sustainable Development and Energy
Rue I75 Riviera Bonoumin, Abidjan – COTE D’IVOIRE
Tel: +225 27 22 217 509 /Email: com_cotedivoire@gggi.org Website: www.gggi.org
About West African Development Bank
The Banque Ouest Africaine de Développement (BOAD) is the joint development finance institution of the countries of the West African Monetary Union (WAMU). According to Article 2 of its Articles of Association, the BOAD’s purpose is to “promote the balanced development of member states and achieve economic integration in West Africa” by financing priority development projects. It is accredited with the three climate finance mechanisms (GEF, AF, GCF). Since 2009, BOAD has been an observer at the UNFCCC and has played an active role in discussions concerning the construction of an international architecture for climate finance. Since January 2013, it has been home to the first Regional Collaboration Center (CRC) on the Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects. It is committed to carbon neutrality by 2023. WWW.BOAD.ORG
About the Global Green Growth Institute (GGGI)
The Global Green Growth Institute (GGGI) is a treaty-based international intergovernmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. GGGI is present in over 43 countries and is expanding to implement actions that reconcile short-term development needs with a long-term vision. The GGGI 2030 strategy paves the way for efforts to effectively support the needs of its member countries in transforming their economies towards ecologically sustainable and socially inclusive green growth. The 2015 Paris Agreement calls for a strengthened global response to the threat of the climate crisis and deteriorating environmental conditions, seeking to keep global temperature rise this century well below 2°C above pre-industrial levels. The GGGI has a unique presence in the country and a leading role as a neutral, trusted advisor and integrated strategic development partner to member and partner governments. Our local teams act as trusted advisors to governments and other stakeholders to create specific local projects that support global green growth.