Advising on the launch of a financing facility and investment pipeline for the West Africa Sustainable Ocean Program

THE BACKGROUND

West Africa's coastal zones hold immense potential for driving sustainable economic growth through sectors such as fisheries, marine renewable energy, and coastal tourism. However, limited access to financing, institutional fragmentation, and a lack of investment-ready pipelines have constrained progress. In response, the European Union launched the West Africa Sustainable Ocean Program (WASOP), with Expertise France leading Pillar II: Sustainable Blue Economy.

THE PROJECT

FINANCE FOR IMPACT, in partnership with Elemental Solutions, has been selected to lead the technical advisory work on blue finance under WASOP’s Pillar II. The tasks included:

• Conducting a comprehensive diagnostic of financing needs and instruments across 13 coastal countries;
• Designing a regional Technical Assistance Facility ("Blue Facility") offering 13 tailored support packages;
• Framing a EURO14M pilot project call to support scalable, high-impact initiatives;
• Supporting the creation of a regional Blue Finance Practitioners Network.

THE RESULTS

The initiative provided the foundation for a robust, inclusive blue finance architecture in West Africa. Deliverables included:

• A ready-to-deploy Blue Facility with structured investment support packages;
• Co-financing pathways aligned with DFIs and national banks;
• A pipeline of replicable, investment-ready projects;
• Strategic positioning for WASOP at the Blue Economy Finance Forum (BEFF) and upcoming international events.