The Burkinabe government, through the Ministry of Economy, Finance and Development and the World Bank signed three financing agreements worth a total of 253 billion CFA francs on Thursday, January 21, 2021, in Ouagadougou.

The World Bank has again expressed its commitment to supporting Burkina Faso in its development efforts. It has granted the Burkinabe State financial support of 253 billion CFA francs, materialized by the signing of three financing agreements between the two parties on Thursday, January 21, 2021, in Ouagadougou.

The first agreement relates to the financing of the Emergency Territorial Development and Resilience Project (PUDTR). At a cost of 350 million US dollars, or about 194.2 billion CFA francs, this project aims, according to the World Bank's resident representative, Maimouna Mbow FAM, to improve access to infrastructure and essential social services for communities in targeted areas, including internally displaced persons.

According to the Minister of Economy, Finance and Development, between 2021 and 2025, the implementation of the PUDTR is expected to build 553 economic infrastructures, 56 health infrastructures, 166 drinking water infrastructures, 5 women's homes, 23 youth centres and a multi-purpose room. This financing will also make it possible to rehabilitate 142 km of labour-intensive roads and trails, 1200 km of rural roads, to install public lighting on 40 km of roads and to develop 100 hectares of lowlands and 60 hectares of vegetable gardens.

15 billion CFA francs in cash transfers

This project, continued Minister Kaboré, will also make it possible to transfer cash worth 15 billion CFA francs to more than 45,000 vulnerable households. The PUDTR will operate in 10 municipalities in the Boucle du Mouhoun, 5 municipalities in the East and in Center-Est to take care of the residual investments of the Bagré Growth Hub project. The second agreement concerns the financing of development policies related to the response to the COVID-19 crisis.

It is worth 100 million US dollars or about 55 billion CFA francs. According to Maïmouna Mbow FAM, this budget support reflects the desire of her institution to enable the Burkinabe government to deal with the consequences of COVID-19, namely the significant unanticipated public financing needs and the need to continue macroeconomic and sectoral reforms.

This financial support aims to mitigate the impact of the COVID-19 shock on lives and livelihoods, stressed the Burkinabe public finance boss. And this requires, he said, among other things, improving the response to epidemics, strengthening social safety nets, stimulating private investment, and strengthening transparency in the management of public debt.

The third agreement is worth 10 million US dollars, or about 5.5 billion CFA francs. It concerns the additional financing of the Health Services Strengthening Project (PRSS). This financing brings the World Bank's total funding to the PRSS to 110 million US dollars, Minister Kaboré said. “It is anticipated that all funding will help avoid 5 million cases of anaemia during pregnancy, to feed

274,000 children exclusively breastfeed during the first six months, avoid chronic malnutrition for around 180,000 children and prevent 29,000 child deaths,” added the World Bank's resident representative.

For the representatives of both parties, the signing of these financing agreements testifies to the quality and dynamism of the partnership between Burkina Faso and the World Bank.

In view of the impact of these financing agreements on the socio-economic development of the country of upright men, Minister Kaboré invited all those involved in their implementation to work to achieve the expected results for the happiness of the populations.

The 450 million US dollars to finance PUDTR and budget support consist of 50% grants and 50% loans. The 10 million in PRSS funding is made up entirely of donations.