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Commodity processing: Burkina Faso obtains substantial support from BOAD

19/04/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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Determined to promote the local processing of raw materials rather than simply exporting them, the Burkinabe government obtained substantial support from the BOAD to make his vision a reality.

Le gouvernement burkinabè a décroché deux prêts d' un montant total de 29 milliards de F CFA auprès de la BOAD . The first loan, in the amount of 15 billion CFA francs, will allow the purchase and transformation of 427,500 tons of seed cotton into fiber cotton. The second, worth 14 billion CFA francs, will be used by the Société d'exploitation des phosphates du Burkina (SEPB) to strengthen its logistical capacities for the production of mineral fertilizers for small Burkinabe producers. The government of Burkina Faso is implementing this strategy in order to reduce the country's dependence on the outside world in certain areas, thus contributing to the strengthening of its economic sovereignty.

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