FP105
BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs
BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs
The programme targets six Least Developed Countries in West Africa, characterised by one of the lowest access rates to modern energy services in the world, high cost of electricity, overreliance on fossil fuels and subsequent energy security challenges.
Based on Nationally Determined Contributions (NDCs) and country energy plans, the target countries plan to reach 1,192 MW of installed solar capacity by 2030. However, a significant mobilisation of the private sector at scale would be required to bridge this gap. The programme will help the selected countries to achieve their NDCs and address the barriers to solar investments. It will do this by using a blended finance approach to provide affordable long-term funding to solar projects and by providing tenor extension loans that will help de-risk projects, and crowd-in commercial and public banks in scaling up solar investments in the region. The programme is expected to quadruple the existing solar capacity by providing 215 MW solar energy access to 2.9 million people. It will also provide grant funding to build the capacity of local project developers to structure investments, particularly in terms of project preparation and management. In addition, technical assistance will be provided to build the capacity of BOAD in integrating climate change considerations into project cycle. Finally, the programme will enhance the regulatory framework by building capacity of public institutions in the energy sector.
The programme has an estimated lifespan of 20 years.
Project timeline
Pipeline
30 Aug 2017 - 548 days
Concept note received
30 Aug 2017
Funding proposal received
21 Jul 2018
Cleared by GCF Secretariat
11 Dec 2018
Cleared by iTAP
01 Feb 2019
Approved
28 Feb 2019 - 407 days
Approved by GCF Board
28 Feb 2019
Legal opinion on AE's Internal Approval
24 Apr 2019
FAA executed
18 Oct 2019
Under implementation
09 Apr 2020 - 1,721 days so far
FAA effective
09 Apr 2020
Disbursement - USD 2,098,636
10 Oct 2022
To be completed
09 Apr 2027 - 836 days to go
One region
- Africa
Six countries
Three priority groups
- Least Developed Countries
- Small Island Developing States
- African States
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing3% disbursed
Instrument | Amount |
---|---|
Loan | USD 59,811,122 |
Grant | USD 4,197,271 |
Total GCF Financing |
---|
USD 64,008,394 |
Co-financing
Co-financer | Instrument | Amount |
---|---|---|
Co-Financing | Loan | USD 62,959,076 |
Co-Financing | Grant | USD 1,049,317 |
Total Co-Financing |
---|
USD 64,008,394 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Entity
Banque Ouest Africaine de Développement (West African Development Bank)
Head of the Department of Environment and Climate Finance
Head of Climate Project Development
More contacts
National Designated Authority
Ministry of Living Environment and Sustainable Development
Director General, Division of Climate Change
01 BP 3502 - 01 BP 3621, Cotonou, Benin
01 BP 3502 - 01 BP 3621, Cotonou, Benin
Prime Ministry
Policy Officer
Policy Officer
Ministry of the Environment, Biodiversity and Climate Action
Director General of the National Environment Institute
Avenida Joao Bernardo Vieira, Palacio do Governo, Bissau, Guinea-Bissau
The Environment and Sustainable Development Agency
Head of department financial resources mobilization
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
National Council of the Environment for Sustainable Development (CNEDD)
Executive Secretary
Cabinet du Premier Ministre, PL 17 Rue du Gouverneur Jules Brévié, BP 10193, Niamey, Niger, Niamey, Niger (the)
Directorate of Environment, Ministry of Environment
Director of Environment
240 rue des Nîmes Lomé - Togo -, Lomé, Togo
Environmentalist, head of planning unit
240 rue des Nîmes Lomé - Togo, Lomé, Togo
Documents
Title | Type | Date |
---|---|---|
2020 Annual Performance Report for FP105: BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs | Annual Performance Report | 02 Aug 2021 |
Gender action plan for FP105: BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs | Gender action plan | 03 May 2019 |
Gender assessment for FP105: BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs | Gender assessment | 03 May 2019 |
BOAD climate finance facility to scale up solar energy investments in Francophone West Africa LDCs | Approved funding proposal | 21 Mar 2019 |
Environmental and social safeguards (ESS) report for FP105: BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs | Environmental and Social Safeguards report | 01 Feb 2019 |