BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs (GCF-FP105)

Countries
  • Benin
  • Burkina Faso
  • Guinea
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Banque Ouest Africaine de Développement (BOAD)
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Feb 26, 2019

Disclosed by Bank Jan 24, 2019


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Project Description

The goal of the proposed programme is to create a market for investments in solar technologies in the six LDCs mentioned above. The programme aims to incentivize and leverage private sector actors based in these countries to scale up private investment in solar technologies. The programme is expected to contribute to a paradigm shift to low-emission development pathways through the mobilisation at scale of private climate finance.
The programme will have two main objectives and interrelated components:
1. To scale up commercial and sustainable financing for solar investments through senior debt and standby loans
2. To develop technical capacity of private and public sector actors and raise awareness about the benefits of solar technologies.

Investment Description
  • Green Climate Fund (GCF)
Contact Information

Address: 68, Avenue de la Libération

Fax: (228) 22.21.59.06 / 22.21.42.44 / 22.21.01.13

Telex: 5289 BOAD TG / 5336 BOAD TG

E-mail: boadsiege@boad.org

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND

The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.