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Burkina Faso: France to grant $36 million for socio-economic projects

Friday, 30 March 2018 17:30

(Ecofin Agency) - France will grant CFA19.65 billion ($36 million) to Burkina Faso to help develop socio-economic projects. This was agreed via the signing of four agreements on March 28, in Ouagadougou.

 According to information relayed by Xinhua, two-thirds of the amount (about $24 million) will be provided as a subsidy to fund projects in agriculture, natural resources management and food security, notably.

The rest (about $12 million), provided as a concessional loan, will be used to implement the National Economic and Social Development Plan (PNDES), initiated by the government to combat poverty.

Back in 2017, the country had already received CFA131 billion ($246.1 million) under a financing for PNDES which was valued at $28 billion in 2016.

Moutiou Adjibi Nourou (intern)

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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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