The Board of Directors of the West African Development Bank (BOAD) convened for its 137th ordinary meeting, chaired by Mr. Serge Ekue, President of BOAD. During the meeting, several significant decisions were made, including the approval of loans for various projects aimed at advancing clean energy and infrastructure development in the West African region.
Among the approved loans, a noteworthy project is the construction and operation of a 30 MW photovoltaic solar power plant with a 15 MW/45 MWH storage system by Teranga Niakhar Storage in Senegal. This solar power plant is set to enhance the country’s power supply, contributing to a more reliable and secure energy grid.
Additionally, loans were approved for 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 infrastructure and systems for the Diamniadio-AIBD section of the Regional Express Train (TER) in Senegal. These infrastructure projects aim to support economic growth, improve transportation, and reduce congestion in the region.
Furthermore, BOAD’s investment in the capital increase of the Société de Promotion et de Participation pour la Coopération Economique (PROPARCO) will strengthen the financial structure of PROPARCO, contributing to economic development in the region.
In line with its commitment to renewable energy and sustainable development, BOAD’s decision to finance the photovoltaic solar power plant underscores the growing importance of clean energy initiatives in West Africa. This project is expected to have a positive impact on the region’s energy generation and contribute to a greener and more sustainable future.
Overall, 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.