ABIDJAN, Ivory Coast, February 11, 2025/APO Group/ –The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved over $31 million in funding under its African Climate Action Window (CAW) to strengthen climate resilience in Sierra Leone, South Sudan, Djibouti, and Madagascar.

The Climate Action Window of the Bank Group’s African Development Fund seeks to mobilize $4 billion by 2025 to provide rapid and coherent access to climate finance, support co-financing, and prioritize the most vulnerable countries, fragile states, and those affected by conflict. The African Development Fund is the concessional arm of the Bank Group.

The funding, approved in November and December 2024,  will support innovative projects that respond to the CAW’s first call for project proposals. Forty-one pioneering climate adaptation projects valued at $321.75 million have been selected in the initial funding wave, with a focus on tackling climate change, bolstering livelihoods of vulnerable communities, including women and youth, and enhancing climate information systems.

The projects will also benefit from $28.13 million in climate co-financing from sources including the Green Climate Fund.

In Sierra Leone, the Freetown WASH and Aquatic Environment Revamping Project will receive $5 million to enhance access to sustainable water, sanitation, and hygiene (WASH) services and introduce modernized hydrometeorological observation networks and early warning systems, benefiting approximately 700,000 people. Another key component of the project is the creation of an interactive flood map for the Freetown Peninsula, a crucial tool for disaster risk reduction.

In South Sudan, the Climate Resilient Agri-Food Systems Transformation Programme has been allocated $9.4 million to expand climate-adaptive technologies that enhance agricultural productivity and food and nutritional security. The program also has a rehabilitation element focusing on 1200 hectares of land as well as rural infrastructure and will provide training to about 8,000 individuals.

Among expected benefits are a projected reduction of about 720,000 tonnes of CO₂ emissions. and the creation of 180,000 direct jobs with a strong focus on women and youth; additionally, 90,000 farmers will learn about climate-smart farming practices.

In Djibouti, the Youth Entrepreneurship for Climate Change Adaptation Project will receive $7.5 million to strengthen the resilience of productivity of agricultural systems, particularly for horticulture and pastoralism, including increasing the self-sufficiency rate of selected market garden crops from 10% to 30%. It is also expected to generate about 3,500 permanent jobs, a significant share of these for youth and women, and create 200 new medium small and micro enterprises.

The Climate Resilience through Park Biodiversity Preservation Project, in Madagascar, has been allocated $9.4 million for investment in conserving biodiversity by protecting Lokobe, Nozy Hara, and Andringitra national parks.

The project will restore 100% of these protected areas, sequestering 10 million tonnes of CO₂, and creating 1,500 green jobs, with 500 specifically reserved for women. In addition to environmental conservation, it will boost agricultural production in surrounding communities to add 24,000 tonnes of rice and 14,000 tonnes of cereals, legumes and other crops. Further, 24,000 farmers will receive irrigation training, and 12 women-led farmers’ groups will be provided with agricultural kits.

Dr. Kevin Kariuki, African Development Bank Vice President for Power, Energy, Climate Change and Green Growth, said: “The Climate Action Window is catalyzing transformative solutions in Africa’s most climate-vulnerable regions. From strengthening water security in Sierra Leone to advancing youth-led agribusiness in Djibouti and restoring biodiversity in Madagascar, these initiatives go beyond adaptation—they drive prosperity. Through investments, we are equipping communities to withstand climate shocks, create jobs, and accelerate inclusive economic growth.”

Prof Anthony Nyong, the Bank’s Director for Climate Change and Green Growth said, “These initiatives are not just about responding to climate change—they empower communities to take control of their own futures. They show that adaptation finance can and must be directed to those vulnerable communities that need it most. The Climate Action Window is more than just a funding mechanism—it’s a lifeline for communities facing the harsh realities of climate change every day.”

The CAW has since launched two further calls focusing on mitigation and on technical assistance, respectively.

For more information about the Climate Action Window, click here (http://apo-opa.co/3WUGQPo).

SAN FRANCISCO, California, February 10, 2025/APO Group/ —

• AssetCare Web3 capabilities built using Google Cloud and its generative AI capabilities, available in Saudi Arabia via Google Cloud Region in Dammam
• Initial launch in Saudi Arabia highlights digital sustainability leadership as one of the largest energy markets in the world for decarbonization and carbon trading

mCloudTech.ai Corp. (“mCloudTech.ai“) (www.mCloudTech.ai), a provider of AI-enabled cloud applications optimizing the performance, reliability, and sustainability of energy-intensive assets announced today it will be launching new Web3 capabilities for AssetCare^Ⓡ, mCloudTech.ai‘s flagship asset performance management platform on Google Cloud in 2025. This launch highlights mCloudTech.ai‘s partnership with Google Cloud and spotlights Saudi Arabia’s strategic position to lead digital transformation to power sustainability efforts.

Pioneering Web3 for decarbonization

AssetCare will integrate Web3 with blockchain and AI capabilities from Google Cloud to deliver a unified platform for carbon emissions tracking and digital measurement, reporting, and verification (DMRV). The solution enables full lifecycle management for carbon credits, from issuance to trading to retirement, ensuring transparency and accountability in decarbonization efforts. These innovations position AssetCare as the platform of choice for organizations on the path to net zero through asset performance optimization.

Saudi Arabia as launchpad for global expansion

AssetCare’s Web3 capabilities will debut in Saudi Arabia, leveraging the Kingdom’s robust hyperscale infrastructure, data sovereign policies, and advanced AI ecosystem enabled by Google Cloud. Saudi Arabia, one of the largest global energy markets, provides an ideal launchpad for decarbonization and carbon trading activities. mCloudTech.ai and Google Cloud plan to expand globally, targeting energy-intensive economies with state-owned or national energy companies.

Russ McMeekin, mCloudTech.ai Co-Founder, President, and CEO said: “With mCloudTech.ai‘s inception and our partnership with Google Cloud in the Kingdom of Saudi Arabia, AssetCare’s Web3 capabilities will be an excellent showcase of the Kingdom’s digital leadership. Saudi Arabia’s hyperscale compute, data sovereignty policies, and advanced AI capabilities enabled by Google Cloud underscore the Kingdom’s pivotal role in driving digital sustainability around the world. We are honoured to contribute to Saudi Arabia’s success alongside organizations such as Aramco and their sustainability ambitions with the unparalleled capabilities of Google Cloud’s AI, LLM, and blockchain capabilities.”

Bader Almadi, Google Cloud Country Manager for Saudi Arabia said: “Today, mCloud provides valuable services that help global customers across industries improve their sustainability and streamline their operations. Now, these new capabilities in mCloud’s AssetCare platform, built on Google Cloud, can help customers even further track carbon emissions, streamline reporting, and manage carbon credits.”

Saudi Arabia’s digital sustainability vision

mCloudTech.ai, a MISA registered company in the Kingdom of Saudi Arabia is a key partner to deliver a decentralized experience that will empower the Kingdom of Saudi Arabia to lead the way in effectively reducing carbon emissions by leveraging cloud solutions. mCloud plays a critical role in this vision, delivering exclusive digital sustainability applications built on Google Cloud.

This announcement marks a turning point in decarbonization efforts, positioning Saudi Arabia, mCloudTech.ai, and Google Cloud as leaders at the intersection of technology and sustainability.

LOME, Togo, February 10, 2025/APO Group/ –The West African Development Bank “BOAD” (www.BOAD.org/en/) continues to lead in financial innovation with the successful issuance of a $500 million sustainable hybrid bond on the international capital market. This deeply subordinated instrument carries a 30-year maturity with a five-year non-call period, for an equivalent EUR coupon rate of 5.9%. Strong investor confidence drove the bond’s tightening by 37.5 basis points from its initial price offering, resulting in an impressive $1.9 billion order book reached over the day and a final oversubscription ratio of 3.4X.

Prior to this transaction, BOAD had already secured $204 million in private placements with the Arab Bank for Economic Development in Africa “BADEA” and Cassa Depositi e Prestiti “CDP” in December 2023 and August 2024, respectively. Rated Baa3 by Moody’s and recognized with 50% equity content by both Moody’s and Fitch, this inaugural public issuance allows BOAD to outperform its $600 million hybrid bond objective achieving 95% of its Capital Increase objective as part of the Djoliba Strategic Plan. This hybrid bond issuance enables the bank to add additional equity-like capital to its liabilities, bringing its equity-to-assets ratio to 41.7%.

This transaction attracted significant and diversified investors driven by the strong credit profile of BOAD and the characteristics of the structure. In terms of geographical distribution, UK investors represent 44% of the allocation, followed by Switzerland 20%, US 13%, Middle East 3%, Asia 2% and the Rest of Europe 19%. In terms of investor type, Asset Managers represent 69% of the allocation, followed by Hedge Funds 20%, Banks/Private Banks 6% and Pension Funds/Insurance 5%.

The proceeds will be allocated to financing or refinancing eligible Green and Social projects under BOAD’s Sustainability Bond Framework, reinforcing the bank’s commitment to climate action and social progress across the West African Economic and Monetary Union (WAEMU) region. This transaction strengthens BOAD’s capitalization and accelerates the objectives of its Djoliba Strategic Plan, further solidifying its role as a key driver of sustainable economic growth and improved living standards in West Africa.

Mr. Serge Ekué, President & Chairman of the Board stated: “This groundbreaking transaction is a testament to investor confidence and underscores the BOAD’s commitment to innovation as a key driver of development. By mobilizing additional funds, we are strengthening our capacity to finance impactful projects across our member countries, fostering sustainable growth and economic resilience. My sincere gratitude to our advisors Rothschild&Co and Galite, and to BNP Paribas, Société Générale, HSBC, JP Morgan and SMBC.”