Burkina Faso mobilises €28 billion for national development plan

09 Dec 2016
Financial Nigeria


The government said PNDES 2016-2020 is a programme for economic and social development of Burkina Faso.

Burkinabe President Roch Marc Christian Kaboré

The government of Burkina Faso announced on Friday that it has mobilised almost 28 billion euros (18.500 trillion CFA francs) during its partner conference, which held in Paris on December 7-8. The conference was organised in partnership with the World Bank to present Burkina Faso's National Plan for Economic and Social Development (PNDES) 2016-2020 to the international community, including investors.

In a statement released today, the West African country said more than 350 people participated on the first day of the conference where the government met with multilateral and bilateral partners, sovereign funds and financial backers. The government said it received a total commitment of 12.2 billion euros (8 trillion CFA francs) from this group of partners and institutional investors.

On the second day of the conference, where the government met with private investors, the Burkinabe government announced it secured funding of approximately 16 billion euros (10.5 trillion CFA francs). The investment commitments were in infrastructures, energy, ICT, amongst other sectors. More than 800 people participated on the second day of the conference.   

The conference was chaired by Prime Minister Paul Kaba Thiéba. The government said PNDES 2016-2020 is a programme for economic and social development of Burkina Faso. It is designed to help achieve the Burkina 2025 vision, a presidential programme, and the global agenda for sustainable development. The overall cost of implementing the national development plan is estimated at around 23.5 billion euros (15.4 trillion CFA francs).

The financing strategy is based on a multi-stakeholder approach that involves all stakeholders from both public and private sectors. The State planned to contribute 15 billion euros, while additional funding of about 8.5 billion, or 36.2% of the cost of the plan was to be raised from other sources such as debt, technical and financial partners (TFP) and public-private partnerships (PPPs).

Roch Marc Christian Kaboré, Burkina Faso’s president thanked all the partners stating that their pledges were testaments of their continued support and commitment to the development of the country. The Prime Minister said the investors’ commitments would put the country on the path to strong and sustainable growth.

"The World Bank Group, leading partner for Burkina, has mobilised a funding of 3.8 billion dollars to accompany the implementation of the national development plan," said Makhtar Diop, Vice-President of the World Bank for Africa. "This exceptional amount is the height of ambition expressed by the authorities to commit to the reforms in depth which will permit them to follow the diversification of the economy and to create jobs in favour of young people and women."

The PNDES has three strategic objectives. The first is institutional reform and modernisation of the administration. The goal is to promote good governance and create a healthy climate for investment. The second is human capital development. The government aims to improve the welfare of the people of Burkina Faso and their capacity to produce and also reduce poverty rate from 41% in 2014 to 35% by 2020. The third objective is to invigorate the private sector for economic growth and job creation. The goal is to achieve an average annual GDP growth rate of 7.7% and create 50,000 jobs each year.

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