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Home»Business/Economy/Banking & Finance»EU-backed WASOP launches new blue economy initiatives at Africa forward summit
Business/Economy/Banking & Finance

EU-backed WASOP launches new blue economy initiatives at Africa forward summit

Abdallah el-KurebeBy Abdallah el-KurebeMay 11, 2026Updated:May 11, 2026No Comments3 Mins Read
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The European Union-backed West Africa Sustainable Ocean Programme (WASOP) has announced new financing and partnership moves at the Africa Forward Summit in Nairobi aimed at accelerating a sustainable blue economy in West Africa.

The programme states that the initiatives are designed to support climate resilience, food security, and greener port and maritime systems across the region.

Funding push

WASOP, in a statement made available to ASHENEWS on Monday, said it is working within the EU’s Global Gateway framework, with support of up to € 59 million, to combine ocean governance, coastal ecosystem protection, and blue economy investment in West Africa. The programme described the summit as an opportunity to turn commitments into structured projects with measurable impact for coastal countries.

Key announcements

Two headline initiatives were unveiled around the summit, according to the press release. The first is a proposed credit line from the French Development Agency (AFD), to the West African Development Bank, BOAD, to back the bank’s climate and ocean ambitions, with technical support from WASOP. The second is the launch of a “Blue & Green Port Network” by the Port Management Association of West and Central Africa, known as PMAWCA, to unite public and private actors working on the environmental transition of ports in West and Central Africa.

Regional goals

According to the programme, the partnerships are meant to mobilise sustainable financing, attract private investment and speed up the shift toward greener and bluer port models. It added that the effort is also intended to strengthen the competitiveness, resilience and sustainability of logistics and maritime supply chains in the region.

Partner reactions

In their separate remarks, while the Expertise France CEO, Jérémie Pellet, said the summit offers a major opportunity to bring public and private partners together around a sustainable blue economy, BOAD President Serge Ekue said strategic alliances such as those with AFD and WASOP are meant to help mobilise the private sector for climate and blue ambitions.

On his part, EU Ambassador to Kenya, Henriette Geiger, said the European Commission remains committed to financing high-impact projects under the Global Gateway initiative.

Side event

WASOP and its partners are also scheduled to take part in a side event on 11 May at 10:30 a.m. local time at Agora Produce in Nairobi. The session, titled “Blue Economy — maritime sovereignty and sustainable resource development,” will focus on EU and BOAD financing tools and public-private partnerships for port and maritime transition.

AFD WASOP West Africa West African Development Bank
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