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

The World Bank has also expressed its commitment to support Burkina Faso in its development efforts. It 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 resident representative of the World Bank, Maimouna Mbow FAM, to improve the access of communities in the targeted areas, including internally displaced persons, infrastructure and essential social services.

According to the Minister of Economy, Finance and Development, the implementation of the PUDTR, from 2021 to 2025, is expected to build 553 economic infrastructures, 56 health infrastructures, 166 drinking water infrastructures, 5 women's houses, 23 youth centres and a multipurpose room. This funding will also make it possible to rehabilitate 142 km of labour-intensive roads and tracks, 1200 km of rural roads, to carry out public lighting for 40 km of roads and to develop 100 hectares of shallows and 60 hectares of market gardening sites.

15 billion CFA francs of cash transfer

This project, continued Minister Kaboré, will also transfer cash in the amount of 15 billion CFA francs to more than 45,000 vulnerable households. The PUDTR will intervene in 10 municipalities of the Mouhoun loop, 5 municipalities of the East and in the Centre-East to take charge of the residual investments of the Bagré growth pole project. The second agreement concerns the financing of development policies related to the response to the COVID-19 crisis.

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

This financial support aims to mitigate the impact of the COVID-19 shock on lives and livelihoods, said the head of Burkinabe public finances. And this includes, he said, among other things, improving the response to epidemics, strengthening social safety nets, stimulating private investment, 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 funding of the Strengthening Health Services Project (PRSS). This financing brings the World Bank's overall financing to the PRSS to US$110 million, Minister Kaboré said. "It is anticipated that the entire funding will prevent 5 million cases of anemia during pregnancy, feed

274,000 children exclusively breastfed during the first six months, to avoid chronic malnutrition for about 180,000 children and to avoid 29,000 child deaths," added the World Bank Resident Representative.

For 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 Men of Integrity, Minister Kaboré invited all the actors of their implementation to work towards the achievement of the expected results for the happiness of the populations.

The US$450 million for PUDTR financing and budget support consists of 50% grants and 50% loans. The $10 million in PRSS funding is made up entirely of donations.