The President of BOAD, Mr. Serge EKUE, met with Ms. Kitty van der Heijden, Deputy Executive Director – UNICEF Partnerships, during the first day of COP29. This meeting gave the two Institutions the opportunity to discuss their recent initiatives, in particular for UNICEF the exploitation of solar energy to maintain the functioning of health systems, schools and water supply installations. On this occasion, Mrs. Kitty van der Heijden recalled that it was essential to find innovative financing solutions for projects that improve the impact on children. Another initiative is UNICEF Parametric Insurance, the first integrated climate and disaster risk financing mechanism specifically targeted and designed for children and young people. This was also an opportunity for President EKUE to present the program of loans adapted to natural disasters for the Bank’s sovereign loan portfolios, launched by BOAD and several partners including KfW in September 2024. BOAD and UNICEF teams also collaborating to develop a Climate Facility for Children which will be submitted to the Green Climate Fund which reflects the joint commitment of both institutions. At the end of the meeting, the EKUE President recalled the urgent need for development actors to speed up their interventions to respond to emergencies and the needs of our populations.
Q&A with Serge EKUE, President of BOAD, on Innovative Financing for Children Amid Climate Challenges
Interviewer: Welcome, Mr. EKUE, and thank you for joining us today. We recently learned about your meeting with Ms. Kitty van der Heijdens during COP29, where you discussed crucial initiatives aimed at improving the lives of children. Can you elaborate on the significance of these discussions?
Serge EKUE: Thank you for having me. Our meeting was indeed timely and essential. The discussions focused on leveraging solar energy to sustain critical systems like health care, education, and water supply in vulnerable communities. This aligns with our shared vision of ensuring children’s basic needs are met, especially in regions grappling with the effects of climate change.
Interviewer: UNICEF’s initiative on solar energy is groundbreaking. How does this project specifically enhance the functioning of health systems, schools, and water supply installations?
Serge EKUE: By utilizing solar energy, we can reduce reliance on non-renewable power sources, lower operational costs, and increase the resilience of these vital services. In many areas, consistent access to electricity is a challenge. Solar installations enable health facilities to function reliably, schools to maintain educational continuity, and communities to have reliable water access, even during fluctuating climate conditions.
Interviewer: You mentioned innovative financing solutions during your discussion with Ms. van der Heijden. Could you share some insights on those?
Serge EKUE: Certainly. One of the major challenges we face in implementing these initiatives is securing adequate financing. We discussed several innovative financing options, including UNICEF’s Parametric Insurance, a pioneering mechanism designed specifically for children and young populations, that aims to mitigate the financial risks associated with climate disasters. Additionally, through BOAD, we are launching a program of loans tailored for natural disasters, in collaboration with partners like KfW.
Interviewer: This sounds promising. How can development actors, including NGOs and private sectors, contribute effectively to this mission?
Serge EKUE: Collaboration is key. Development actors should prioritize partnerships that enhance resource mobilization and share knowledge. They can engage in joint funding initiatives and utilize emerging financing vehicles like green bonds or blended finance solutions. Importantly, they must be agile and responsive, adapting their strategies to meet the urgent needs of populations affected by climate challenges.
Interviewer: You also mentioned the Climate Facility for Children that BOAD and UNICEF are developing. What are the main objectives of this facility?
Serge EKUE: The Climate Facility for Children aims to channel resources into projects that directly benefit children in the context of climate change. Our goal is to submit this facility proposal to the Green Climate Fund, which will allow us to scale our initiatives effectively. It embodies our commitment to merging climate action with child welfare, ensuring that children are at the core of development strategies.
Interviewer: As the urgency rises due to climate change, what practical advice do you have for readers who want to support such initiatives?
Serge EKUE: Individuals can contribute in multiple ways: advocating for policies that support renewable energy, engaging in community programs that promote climate resilience, or supporting organizations working directly on the ground. Every action counts, whether that’s participating in local clean-up initiatives, fundraising for educational projects, or simply raising awareness about the challenges children face in climate-affected areas.
Interviewer: Thank you, Mr. EKUE, for sharing your insights. The intersection of finance, climate action, and child welfare is critical for future generations, and we appreciate your time today.
Serge EKUE: Thank you for having me. I hope our conversation inspires collective action towards a sustainable future for our children.
