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Burkina Faso: AfDB to invest $900M in power and agriculture over next five years

Tuesday, 12 September 2017 19:00

(Ecofin Agency) - The African Development Bank (AfDB) has decided to invest FCFA500 billion (about $910 million) in Burkina Faso, in two key sectors of activities, namely power and agriculture, over the next five years.

This results from talks between the institution and the Burkinabe government, last September 8, to review their cooperation and define perspectives regarding strategic decisions which AfDB plans to implement under the cooperation referential of both parties for the next five years, that is the 2017-2021 Country Strategy Document (DSP). 

According to Burkina Faso’s Prime Minister, Paul Kaba Thieba, the meeting marks the end of preparation procedure for the 2017-2021 DSP. This helped identify two main intervention axes that are “improving access to power and developing agriculture for inclusive growth”.  

“The two axes identified fall in line with our national referential’s guidelines and will therefore contribute to its implementation,” added the PM. The official was referring to the national plan for economic and social development (PNDES). 

For his part, Janvier K. Litse, AfDB’s director general West Africa, said he was satisfied with the fact that private sector’s contribution to project development in solar power, cotton and other agropoles was growing significantly. This insured that the DSP “planned for more projects to be carried out by private investors”.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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