BOAD is the development bank of the West African Economic and Monetary Union (WAEMU), the member states including Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. Training activities are carried out to develop its environmental expertise and capacities.
BOAD funds the development of its member states and regional integration through equity and loans, interest rate subsidies and technical assistance in infrastructure sectors.
The EU-Africa Infrastructure Trust Fund (ITF) provided technical assistance through training to increase awareness, knowledge and understanding among BOAD’s key staff of environmental matters and questions related to climate change.
Support was also made available to fund a study on the scope for and feasibility of a carbon fund in the WAEMU, to be managed by BOAD.
In addition to these actions, assistance is provided for strengthening BOAD’s capacities in assessing industrial and urban development projects and their environmental risks.
The activities are part of the development bank’s business plan objectives to increase expertise in climate change and environmental issues.
The ITF allocated a technical assistance grant of €900 000 in April 2010, out of a grand total of €208.9 million for grant operations approved for the 2007-10 period.