West Africa : MIGA announces €506 million guarantee for sustainable development

On November 25, 2024, the Multilateral Investment Guarantee Agency (MIGA), a World Bank member, unveiled a €506 million ($535 million) guarantee to support sustainable development projects in West Africa. This funding will back loans from Société Générale (France) and HSBC (UK) to the West African Development Bank (BOAD) for energy transition and climate adaptation projects in eight UEMOA countries, including Togo. MIGA’s guarantee aims to enhance climate resilience through renewable energy, green housing, and agricultural initiatives, advancing the region’s sustainable development goals.