(Ecofin Agency) - The European Union (EU) approved a CFA18.34 billion financing for Burkina Faso to advance the agricultural sectors’ value added development project (VAFA). The document was initialed last April 13 by the Burkinabe finance minister, Rosine Coulibaly, and Jean Lamy (photo), ambassador and head of EU’s delegation.
The main objective of this initiative is to “contribute to increasing, diversifying and improving the quality of agro-silvo-pastoral products to meet the demand of the country's urban and rural centers as well as export needs, through the inclusive development of agricultural value chains”.
Furthermore, the financing is in line with the National Economic and Social Development Plan (PNDES), which aims to increase agricultural processing to 25% from 12%, by 2020.
Let’s recall that, husbandry provides more than 30% of rural population’s income in Burkina Faso.