Lom©: The West African Development Bank (BOAD) issued a call for collective mobilization on Thursday, aiming to address the challenges obstructing energy transition and sustainable agriculture within the West African Economic and Monetary Union (WAEMU) zone.

According to Burkina Information Agency, the appeal was made by Serge Ekou©, President of BOAD, during the launch of BOAD Development Days in Lom©. This new platform seeks to develop concrete solutions to the sustainable development challenges facing the WAEMU region. In his opening address, Ekou© emphasized the strategic crossroads at which West Africa stands, particularly in terms of development.

Ekou© pointed out the tangible impact of climate change, the fragility of agricultural areas, unequal access to energy, and the immense financial needs required to address these issues. He stressed the importance of rethinking models of production, consumption, and investment to move forward.

Highlighting the region’s low electricity access-less than 50% in WAEMU-despite significant potential, Ekou© underscored the urgency of addressing these issues. He also pointed to the vulnerabilities in the agricultural sector, which include reliance on imported inputs, low levels of mechanization, and the adverse effects of climate change. In response, BOAD has made a strategic commitment to tackle these issues.

Since 2021, under the DJOLIBA Plan, BOAD has invested over 3,300 billion FCFA in the Union’s economies, with 39% of energy investments channeled into renewable energies. Ekou© assured that the bank is supporting several flagship projects, such as solar power plants, and is backing sustainable agriculture initiatives that incorporate innovations like drip irrigation, agroforestry, and index-based agricultural insurance.

The forum, spanning two days, aims to gather experts, decision-makers, and investors to explore innovative financing solutions and enhance private sector involvement in agriculture and energy.