All the panelists pointed the lack of regulatory standardization as the main factor that would contribute to the reluctance of financiers to take interest in the sector in the community.
"Today, commercial banks in general intervene above 100 million euros when it is without recourse. If we want to go to 10 million or 5 million for example, no one in our environment is able to go to that level and analyze the regulations of each country, to make legal documentation that costs 200 or 300 thousand euros for a small project, "said Hacina Py, global head of export financing at Societe Generale.
"If several countries adopt a supranational protocol for solar, we would analyze it once then we would say, now we understand how it works and we can use it as many times as we want. We can therefore start looking at small projects, "she added.
Reminding the social impact of electricity in the fight of rural exodus, Philippe MALBRANCHE, General Director of National Solar Energy Institute of France for his part, insisted on "the need for states to fix global and integrated goal. "
Seyni NAFO, Ambassador, Special Adviser to the President of Mali thinks that "BOAD has a unique role to play because it evolves in an ecosystem where he is the technical and the financial arm of a set of political institutions. "
Pierre Telep, Senior Specialist in charge of Energy at the Green Climate Fund, emphasized training and the need of capacity strengthening of actors on the eligibility criteria to enable the various States to benefit from the Green Climate Fund
From now, it's up to BOAD to go to solar projects
That is the resolution taken by president Christian ADOVELANDE in response to the various observations of the panelists. Clearly, the question of solar or rural electrification will occupy a good place in the next projects to finance by his institution.
On this challenge, the bank now wants to make itself available to go not only to solar projects initiators in the Union, but also support them as far as strengthening their skills is concerned to better formulate their project.
"The idea is to work with solar project developers so that they can present bankable projects to take advantage of IFC, KFW, AfDB, UFD, World Bank, the European Union and the Green Climate Fund with which BOAD has very deep relations, "explains the head of the institution.
"Our concern is to act as a catalyst to mobilize resources for the benefit of the sub region," he insists. However, he says, the bank will never lose sight of its first classic missions.
"We will still remain strategically focused on financing infrastructure in all areas, both public and private, and we will always remain in food security and strengthen support for the private sector," reassures Mr. ADOVELANDE.