(Ecofin Agency) - The capital of the future Agricultural Bank of Burkina Faso (BADF) is CFA14.27 billion, Agence de presse africaine (APA) reports.

The new financial institution’s main objective is to help develop agriculture and farming in the country. It will specifically focus on supporting the farmers’ acquisition of farm inputs, mobilizing savings in rural areas and strengthening the financial support in this sector which captures only 3% of banking credits.

Let’s recall that WAEMU’s Banking Commission authorized its creation on March 13, 2018. It is owned by a poll of 13 agricultural organizations, 3 state-owned companies, 8 private companies and 70 private persons.

For the record, in Burkina Faso, the rural sector employs more than 86% of the active population and contributes to about 35% of the national GDP.

Espoir Olodo