The West African Development Bank (BOAD) and the European Chamber of Commerce of Côte d ‘Ivoire (Eurocham) organized on Friday, March 25, 2022 in Abidjan at NOOM hotel, a business luncheon with senior officials of both structures: Julien DELCOURT, Deputy Director of Eurocham; Delphine LAVAUD, Chair of Eurocham CSR Committee and a delegation of the Bank composed of Ibrahima DIOUF, Special Advisor to the President (BOAD), Almamy MBENGUE, Director of the Country Development Department and Franchy NAGO, Head of the BOAD Resident Mission in Côte d ‘Ivoire.
Raise awareness of BOAD, its approach to corporate social responsibility (CSR), its financing mechanisms and offers to private sector actors; promote their access to financing solutions; identify potential project leaders seeking financing in relation to the five (5) priority sectors of the Djoliba plan: transport/ICT/digitalisation infrastructure, energy, agriculture and agri-food, health/education and real estate. These are some of the key points discussed at the business luncheon between the Ivorian private sector and BOAD and Eurocham officials. Indeed, in line with its Djoliba strategic plan (2021 2025) the West African Development Bank (BOAD) intends to invest $5 billion into the economy of the West African Economic and Monetary Union (WAEMU) being financed, said Ibrahima Diouf, Special Advisor to the President of the West African Development Institution. According to the Head of the BOAD Resident Mission in Côte d ‘Ivoire, the Bank’s presence at this event is fully in line with the implementation of its Djoliba Five-Year Plan, which proposes a set of integrated solutions to address the financing needs of the private sector and contribute to its development.
What can we learn from Eurocham?
Created in 2009, Eurocham brings together 200 companies from 12 nationalities in the European area and is a major contributor to Côte d ‘Ivoire. The organization currently accounts for a significant share of Ivorian GDP. Its member companies are divided as follows: 63% large companies and subsidiaries of international groups, 36% SMEs and 1% bilateral chambers of commerce. They operate in all sectors of activity; the tertiary sector (67%), the secondary sector (27%) and the primary sector (6%).
Brief overview of BOAD
The West African Development Bank (BOAD) is the joint development finance institution of the West African Monetary Union (WAMU) States. BOAD is a public institution of an international character whose purpose, according to Article 2 of its statutes, is “to promote the balanced development of its Member States and achieve the economic integration of West Africa” by financing priority development projects. It is accredited to the three climate finance funding mechanisms (GEF, AF, GCF). Since 2009, BOAD has been an observer to the UNFCCC and actively participates in discussions on building an international climate finance architecture. Since January 2013, it has hosted the first Regional Collaborating Centre (RCC) on the Clean Development Mechanism (CDM), which aims to provide direct support to governments, NGOs and the private sector in the identification and development of CDM projects. It is committed to carbon neutrality by 2023.