(Ecofin Agency) - Last May 11, World Bank approved a $100.85 million (CFA55 billion) loan commitment for agriculture, water and ICTs sectors in Burkina Faso. The agreement was initialed by Rosine Coulibaly (photo), Burkinabe minister of economy, finance and development and Cheick Fantamady Kanté, World Bank’s resident representative in Burkina Faso.
Two agricultural projects including Bagré growth pole and the regional support project for irrigation in the Sahel (PARIIS) will benefit from the funding. $50 million will be earmarked to the Bagré growth pole, whose goal is to boost private investment and agricultural production and create jobs.
“With more than 19 km of irrigation canals, 5, 000 additional hectares will then be irrigated over the next two years, providing cultivable land to more than 70 SMEs and more than 1,000 displaced people,” the World Bank representative said.
Meanwhile, the second initiative (PARIIS) will receive $30.85 million for operations in Burkina Faso.
“This amount will finance both the development of a 400 hectares irrigated perimeter downstream of Dourou dam, commonly called Kanazoé dam and the irrigation of cotton production systems over the next 4 years,” Mr. Kanté added.