On Tuesday, March 25, the West African Development Bank (BOAD) announced in Dakar, the launch of the second phase of the Natural Disaster Adapted Loans Program (PACAN).

After a pilot phase initiated in April 2022 and limited to four countries, PACAN now extends to all UEMOA member states. This program provides for a temporary suspension of loan payments in the event of a natural or health disaster, such as a drought, flood, or pandemic, allowing governments to quickly access emergency funds without compromising their solvency. It is based on a system combining subsidized loans and parametric insurance, allowing States to better manage climate shocks while maintaining their capacity to invest in sustainable development projects. The pilot phase of PACAN, with a budget of 10 million euros, benefited Benin, Côte d'Ivoire, Senegal and Togo, with a loan portfolio exceeding 350 million dollars.