Strategic meeting on sustainable finance

On February 26, 2024, the French Development Agency (AFD) signed several strategic agreements with Mauritius to combat climate change.

In the morning, AFD Director Rémy Rioux participated in the inauguration ceremony of the international conference « Navigating Towards Sustainable Finance in Africa » held at the Hilton hotel. This initiative, organized by the Bank of Mauritius (BoM) and the Economic Development Board (EDB), brought together local and international financial actors, including banking dignitaries and representatives of development agencies.

The interventions, speeches, and exchanges addressed the crucial role of the banking system and investments in transitioning to a green economy in Africa. Finance Minister Renganaden Padayachy states, « Sustainable finance represents not only the future of global investments but also the future of Mauritius. Moreover, the country combines opportunities and responsibilities in financial markets. »

Signing of 3 agreements for responsible resource management

The AFD Director-General and Mauritian Prime Minister Pravind Jugnauth discussed their shared vision and collaboration priorities. Discussions focused on the increasing orientation of Mauritius’ financial center towards green finance and sustainable development. This hub channels approximately 10 % of foreign investments to Africa. Indeed, the Mauritian financial center channels nearly 10 % of foreign investments to Africa.

Rémy Rioux finalized three cooperation agreements with local authorities. The first involves conducting hydrological studies in Rodrigues to optimize groundwater resource management. The second concerns accelerating the implementation of the Paris Agreement on climate change in Mauritius. The last agreement allows BoM to benefit from AFD’s expertise in creating a plan and method to make the financial system more environmentally friendly.