Togo is set to receive 17 billion FCFA in support from the Green Climate Fund (GCF) through the West African Development Bank (BOAD) to enhance its climate resilience.
The sub-regional institution has recently secured approval from the FVC for this initiative, which will assist vulnerable communities across the nation.
This funding marks the first allocation of its kind for Togo from the United Nations Climate Finance Mechanism. Its objectives include improving climate information services, establishing multi-hazard early warning systems, and implementing local adaptation strategies. The initiative will be carried out over a five-year period by the National Agency for Civil Protection (ANPC), under the oversight of the Ministry of Security and Civil Protection.
As an institution accredited by the GCF since 2017, BOAD facilitates financing through grants, loans at preferential rates (ranging from 0 to 1.75%), guarantees, and refinancing options. Through its Climate Investment Programs (PIC) and the Climate Study Fund (FEC), it assists UEMOA States in creating innovative and resilient projects.
Integrated approach to climate finance
This financial support for Togo follows the recent allocation of a 30 billion FCFA subsidy by the sub-regional BOAD in October 2024, aimed at financing climate adaptation initiatives for local authorities in the region.
In addition, last year, the Bank had previously provided a 4.3 billion FCFA facility to Togo to address flood-related challenges. This funding is part of the Loans Adapted to Natural Disasters (PACAN) program, which is designed to enhance the resilience of UEMOA countries against climate and health emergencies.
