NDF - Financing for climate change and development projects

WACA Call For Innovation Demo Day and Award Ceremony

Photo: Stig Nyggard
17.11.2020

NDF Managing Director, Karin Isaksson is on the jury of the West Africa Coastal Areas Program (WACA) Call for Innovation Demo Day and Award Ceremony

The event, hosted by the WACA program and co-hosted by World Bank, features Karin Isaksson, Managing Director of NDF, World Bank Directors Deborah Wetzel, Imad Fakhoury, and Simeon Ehui, and five groups of innovators on 18 November 2020 at 14.00-15.30 GMT. The Call for Innovation is seeking innovative engineering, management, and Public-Private Partnerships ideas leading to sustainable development and coastal resilience in West Africa. Five finalists will present their innovations to mitigate large commercial ports’ impact on sediment movement and coastal erosion. Registration is required to participate. Register here to join the event remotely.

Coastal erosion and flooding in West Africa severely threaten people’s communities, livelihoods, safety and investments. Approximately 40 million people in these countries are at risk from impacts of the changing climate including threats of rising sea level, coastal erosion, storm surge, flooding, and salinity intrusion. The West Africa Coastal Areas Program (WACA) is a multi-country regional project that supports the strengthening of resilience of coastal communities and assets in six western African countries.

NDF was the first international financing institution committing to finance the WACA Investment Program. During the subsequent investment phase, more than USD 200 million was contributed, initially by NDF, the World Bank, and Global Environment Facility (GEF), and later on around ten other financing partners joined the Program. NDF provides both grant financing and concessional loans to WACA: EUR 8 million in concessional loans to Benin and Senegal and EUR 5.1 million in grant support to the WACA Platform, which provides guidance and crowd-in knowledge and finance for potential follow up investments to countries on the West African coast.

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