The funds will be used to finance projects in the renewable energy sector aimed at mitigating climate change; The initiatives will be targeting the eight West African countries that hold equity in BOAD (www.BOAD.org): Benin, Burkina Faso, Côte d’Ivoire, Niger, Senegal, Togo, Mali, and Guinea-Bissau.

A €100 million operation to finance projects addressing climate change mitigation in West Africa through the subscription of the first hybrid bond issued by a multilateral bank with this exclusive purpose. This is outlined in the agreement signed by the Italian Climate Fund, managed by Cassa Depositi e Prestiti (CDP) on behalf of the Ministry of Environment and Energy Security (MASE), and the West African Development Bank (BOAD), a multilateral development bank of the West African Economic and Monetary Union countries (WAEMU).

Specifically the agreement, which was signed today at the headquarters of Cassa Depositi e Prestiti in the presence of Edmondo Cirielli, Deputy Minister of Foreign Affairs and International Cooperation; Serge Ekue, President of BOAD; and Dario Scannapieco, CEO of CDP, involves the subscription by the Climate Fund of a hybrid bond amounting to €100 million, issued by BOAD. The funds will be used to build and rehabilitate infrastructure for the production of electricity from renewable sources, in order to diversify the energy mix, avoid CO2 emissions and reduce energy production costs, thus contributing to the achievement of several UN Sustainable Development Goals (SDGs), especially SDG7 (“Affordable and Clean Energy”), in the WAEMU Member Countries: Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali,  Niger, Senegal, e Togo.

“This Sustainable Hybrid Private Placement, issued in line with our Sustainability Framework, will help BOAD to strengthen its capital structure and therefore reinforce its rating profile while serving its Member Countries’ electricity generation needs. This second hybrid bond transaction closed by BOAD in accordance with its Djoliba Strategic Plan shows our commitment to further advance economic growth and sustainable development through impact-focused and innovative financing solutions” declared M. Serge EKUE, President and chairman of BOAD.

The Sustainable Hybrid Private Placement will enable BOAD to strengthen its capital structure, enhancing its ability to mobilize new climate finance in the region. The bond issue subscribed by the Italian Climate Fund is one of the first in the world of this kind issued by a multilateral bank, including the hybrid bond issued by the African Development Bank in January 2024. Finally, the initiative is in line with the recommendations formulated from the G20 during Italian presidency aimed at strengthening the investment capacity of multilateral development banks.

The Italian Climate Fund, with an allocation of 4.2 billion euros, is aimed at financing public and private projects in emerging and developing countries that contribute to the achievement of climate and environmental goals, in line with Italy’s international climate commitment.

“The Italian government’s commitment to selecting and supporting qualified entities to ensure concrete and productive investments in Africa continues, in perfect alignment with the objectives and guidelines of the Mattei Plan” stated Gilberto Pichetto Fratin, Italian Minister of Environment and Energy Security. “Countries will benefit from the first euro-denominated hybrid bond that the Ministry of the Environment and Energy Security has been able to create, thanks to the technical and financial expertise of Cassa Depositi e Prestiti. The installation of green energy plants will support sustainable economic growth in Africa, and at the same time, the proposed financial solution is highly innovative: a distinctly Italian approach that highlights our new way of engaging in cooperation with African countries.”

“Steps like the signing of this agreement allow us to realize the vision of the Mattei Plan, particularly confirming the strategic role of the Climate Fund,” stated Edmondo Cirielli, Deputy Minister of Foreign Affairs and International Cooperation, who spoke at the signing ceremony. “We aim to promote economic growth and environmental sustainability in West Africa and across the continent, always in a spirit of equal partnership. Actors like CDP and BOAD are crucial in this context.”

“This operation marks a significant milestone for the Italian Climate Fund, the climate finance instrument of the Italian government, managed by CDP on behalf of the Ministry of the Environment and Energy Security. The first euro-denominated hybrid bond issued by an African multilateral development institution, which will have tangible benefits for the capitalization of BOAD and, consequently, the African banking system, will allocate additional resources to support projects in the renewable energy sectors across eight West African countries. This is another initiative, which adds to the initiatives already undertaken as part of the Mattei Plan, aimed at promoting the continent’s efforts towards climate change mitigation, in line with the United Nations’ Agenda 2030 Sustainable Development Goals,” has declared Dario Scannapieco, CEO of Cassa Depositi e Prestiti.

Distributed by APO Group on behalf of Banque Ouest Africaine de Développement (BOAD).

About the Italian Climate Fund: 
The Italian Climate Fund is the innovative financial instrument promoted by the Italian government to support climate finance projects in developing countries and emerging markets. The Fund, established by the Budget Law 2022 at the Ministry of Environment and Energy Security and managed by Cassa Depositi e Prestiti S.p.A., has an endowment of 4.2 billion euros and is dedicated to finance initiatives across both public and private sector aimed at fostering the achievement of the goals set by international agreements on climate and environmental protection to which Italy is a party.

About Cassa Depositi e Prestiti (CDP): 
CDP is the Italian National Promotional Institution and the Financial Institution for International Development Cooperation entrusted by the Italian State to foster the sustainable development of Italy and partner countries. CDP supports economic growth, social inclusiveness and ecological transition by investing in innovation, business competitiveness, infrastructures and local development. According to its 2022-2024 Strategic Plan, it is expected to mobilize a total of €128 billion investments within 2024. For more information visit: www.CDP.it

About BOAD: 
The West African Development Bank (BOAD) is the common development finance institution of the member countries of the West African Economic and Monetary Union (WAEMU). It is an international public institution whose purpose, as provided under Article 2 of its Articles of Association, is to promote the balanced development of its member countries and foster economic integration within West Africa by financing priority development projects. It is accredited to the three climate finance facilities (GEF, AF, GCF). Since 2009, BOAD sits as an observer at the UNFCCC and actively participates in discussions on devising an international climate finance system. Since January 2013, it has been home to the first Regional Collaboration Centre (RCC) on Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects. BOAD has issued the 1st sustainable bond out of Africa in 2021 and  the 1st hybrid bond ever issued by an MDB in 2023. Since October 15, 2023, the Bank co-chairs with Bancoldex, the Colombian Business and Export Development Bank, the International Development Finance Club (IDFC), which brings together 26 national, regional and bilateral development banks from around the world.

Foot and Mouth Disease (FMD) is a severe and highly contagious ailment which affects cloven hoofed animals. This disorder threatens food security, livelihoods and also results in economic losses to many states in the African Continent that depend on these animals to generate income. The continuous circulation of this virus leads to the reduction of the quality and quantity of livestock products.

In a move to mitigate and control the spread of this ailment, the African Union InterAfrican Bureau for Animal Resources (AU-IBAR) joined stakeholders from various organisations and member states at a three-day sub-regional training workshop organised by the World Organisation for Animal Health (WOAH) on FMD epidemiology, diagnostics and surveillance for strengthening the control of this virus in the Southern Africa region conducted under the umbrella of the Global Framework for progressive control of Transboundary Animal Diseases (GFTADs) which was hosted at the Kingdom of Lesotho from 30th July to 1st August 2024.

Speaking on behalf of AU-IBAR Director, Dr. Huyam Salih, the head of Animal Health Unit at AU IBAR, Dr. Hiver Boussini, sensitised that safeguarding the health of our animals is a great move and it will positively affect the wellbeing and development of the Southern Africa region. 

While tendering a presentation, Dr. Boussini stated that animal resources are an important livelihood and commercial asset to mostly the rural communities which constitutes 70% of African population. Africa being an animal rich continent which represents about one third of animal population across the globe, the resources from the animal sector contributes between 30% to 80% to country’s agricultural GDP. In at least 30% member states, livestock contributes 20% to 73% of Agricultural Gross Domestic Product (AGDP) which in 10% of African member states it amounts to 50% to 73%. Livestock products are the major sources of proteins and they contribute up to 13% of the world’s calorie intake.

In Africa, 12 out of 15 Transboundary Animal Diseases (TADs) and Zoonoses occur across the continent. Most of the African countries are affected by a number of TADs and Zoonoses which are Peste des Petits Ruminants (PPR), Foot and Mouth Disease (FMD), Rabies, Contagious Caprine Pleuropneumonia (CBPP), Anthrax, Brucellosis, TB among others.

Foot and Mouth Disease is widely distributed in Africa as a result of lack of evidence-based vaccination strategy, absence of valid national and regional control programmes and plans and also the inadequacy of coordination of the national, regional and continental levels.

According to research done earlier, the Southern Africa region has been adversely affected by the FMD with South Africa having a total of 159 new outbreaks and 306638 livestock which are susceptible as of the year 2015 to 2022.  As reported by member states, the year 2018 had a higher number of outbreaks scaling up to 2000 cases of outbreaks.

In a bid to the betterment of Animal Health across the continent, AU IBAR has established a number of mechanisms within the veterinary domain namely the Continental Animal Health Platform of Public and Private Actors (CAHP-AFRICA) which works on providing leadership in the implementation of Animal Health Actions, the African Association of Veterinary Education Establishments (2A2E-V) which spearheads reforms in veterinary education across the African continent and the African Association of Veterinary Statutory Bodies (2VSB) which co-ordinates reforms in veterinary regulation. These robust mechanisms aim to strengthen the competencies of veterinary services for the implementation of the Standards Methods and Procedures in Animal Health Approach (SMP-AH) which in the long run will help in the prevention and controlling of Transboundary Animal Diseases in the African Union member states.

As animal diseases remain a key challenge to animal resources development in the African Continent, AU IBAR encourages member states to develop official control programmes to apply for disease free status to World Organisation for Animal Health (WOAH). AU IBAR also advocates on the need to have access to quality vaccines in an effort to prevent and control the Transboundary Animal Diseases (TADs) and Zoonoses. 

Distributed by APO Group on behalf of The African Union – Interafrican Bureau for Animal Resources (AU-IBAR).

On 20 July 2024, the Royal Thai Embassy in Cairo in collaboration with the Thai Students’ Association in Cairo under the Royal Patronage (TSA) organized an orientation for the first semester of 2024 academic year for students of TLECC. The said orientation was attended by more than 20 teachers, students and staff, comprising a number of activities such as introduction of new TLECC teachers and providing guidance on studying, examinations, and extracurricular activities.

On this occasion, Ms. Nathakrita Pungsuk, Director from the Department of Learning Encouragement (DOLE), Ministry of Education of Thailand, and her team also took part in the event via videoconference. Furthermore, Mr. Abdulhalem Toh-ae, a long-time teacher at TLECC since its inception in 1995, delivered a farewell speech to the students on his retirement and was presented with a certificate from DOLE for his 3-decade of dedication and educational service to the community at TLECC. From 2024 academic year onwards, TSA will be responsible for the operation of TLECC in collaboration with the Royal Thai Embassy in Cairo.

Distributed by APO Group on behalf of Royal Thai Embassy, Cairo, Egypt.

On 25 July 2024, Ms. Thanavon Pamaranon, Chargé d’affaires a.i., delivered opening remarks at the 2024 International Academic Fair at the El Weili Youth Club, Cairo. The Chargé d’affaires expressed appreciation to the 69th Committee of Thai Students’ Association in Cairo under the Royal Patronage for the great preparation and encouraged Thai students to actively participate in the various activities. The said event shall provide a useful platform for students to showcase their abilities and knowledge in religion, various forms of arts, as well as practice their Arabic language and teaching skills. Food and product stores were also a good training ground for students’ careers and entrepreneurship. This year, students from the Egyptian Youth Council, Malaysia, and Indonesia were invited to perform in cultural activities as well.

On this occasion, the Chargé d’affaires underscored that this year marks the 70th anniversary of the establishment of Thai-Egyptian diplomatic relations. Highlights of high-level exchanges between the two countries so far this year include the visits of the Thailand-Egypt Parliamentarians Friendship Group, the Ministry of Foreign Affairs of Thailand and the Office of the National Security Council of Thailand. More recently, Professor Dr. Ahmed Mohammed Ahmed Al-Tayeb, Grand Imam of al-Azhar, visited Thailand as a guest of the Royal Thai Government and Mr. Aroon Boonchom, Sheikhul Islam of Thailand, will be visiting Egypt to attend the 9th International Fatwa Conference in Cairo. The importance of supporting Thai students studying in Egypt which exceed more than 2,800 students was raised at all levels.

Distributed by APO Group on behalf of Royal Thai Embassy, Cairo, Egypt.