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Burkina Faso signs $235 mln agreements with WBG for education, finance and inclusive growth projects

Monday, 13 May 2019 13:27
Burkina Faso signs $235 mln agreements with WBG for education, finance and inclusive growth projects

(Ecofin Agency) - Last week, Burkina Faso and the World Bank Group signed three funding agreements worth $235 million, the country’s economy and finance minister announced during the weekend.

The first agreement is a budget support for inclusive growth, reduction of social inequalities and efficient public spendings. It will also help the country improve internal resources mobilization.

The second agreement is for the education sector. It will help fund the creation of  African Centres of Excellence as well as training and applied research in science, technology and mathematics.  

The third agreement will help in the implementation of  projet d'appui à l'inclusion financière au Burkina Faso (PAIF) aimed at boosting SMEs, farmers, women and young people’s access to digital financial services and to credit.

In July 2018, World Bank Group formed a new partnership framework with the West African country. Scheduled for the 2018-2020 period for more than $2.2 billion of funding, the framework is divided into four categories. These are job creation and growth-boosting, consolidation of the human capital, improvement of economic governance and the development of social care. There is also the development of citizen engagement.

Moutiou Adjibi Nourou

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