West Africa launches green investment platform

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In the quest to implementing the Paris Agreement and achieving the Sustainable Development Goals (SDGs), three organisations convened a round table discussion focused on catalysing green investments, ESI Africa reports.

The organisations included the African Development Bank (AfDB) in conjunction with UNFCCC and West African Development Bank (BOAD), which discussed issues under the theme ECOWAS Green Investment Round Table in Abidjan, Cote d’Ivoire. The meeting was aimed at promoting private sector finance and investment opportunities in the energy sector in the West Africa region.

In her opening remarks the Ivorian minister for safety, environment and sustainable development, Anne Désiree Ouloto, noted that the meeting was timely in addressing challenges related to sustainable development and represents a good opportunity to share ideas and experiences in green investment finance in West Africa.

Also addressing the participants, AfDB vice-president Amadou Hott said AfDB is working on the Co-guarantee platform for renewable energy projects jointly with BOAD and GuarantCo to support renewable energy projects that require private finance. Other presentations included BOAD’s Green Bonds Initiative and Renewable and efficient Energy Fund as a component of global climate change funding mechanism.