Burkina Faso signs three new agreements with the World Bank amounting to 235 billion FCFA
- August 28, 2018
Paul Kaba THIEBA Prime Minister, Head of Government on August 21, 2018, chaired, a high-level meeting between a delegation of the World Bank led by Hafez GHANEM, Vice President Africa of the institution and the Government of Burkina Faso.
This meeting, which is part of the working visit of the Vice President to Burkina Faso, was an opportunity to revisit the partnership between the World Bank and Burkina Faso but also to identify new perspectives to strengthen the already exemplary cooperation between the two parties.
Both parties welcomed the efforts made by the Burkinabè authorities in the quest for a better life for the populations. The Vice President of the World Bank reiterated the support of his institution to Burkina Faso in its actions to fight against poverty.
To materialize this support, the two parties proceeded with the signing of three financing agreements.
The first agreement
The first agreement relates to the financing of the Higher Education Support Project (PAES) with a grant of 70 million USD, or about 35 billion FCFA. The project’s development objective is to strengthen higher education institutions to improve access and provide quality education in priority areas such as agriculture, agri-food, and logistics associated with the value chain, entrepreneurial training, commerce, health sciences, promotion of teacher training to modern mathematics and science education for development practices in Burkina Faso, etc. Scheduled to last five years, the project will run until September 2023, under the technical supervision of the Ministry of Higher Education,
The second agreement
The second agreement relates to the financing of the Water Supply and Sanitation Program (P for R of the Water and Sanitation Sector) for a total amount of 300 million USD, i.e. approximately 150 billion FCFA, consisting of an IDA grant of $50 million, or about CFAF 25 billion and a credit Scale Up Facility of $ 250 million, or about CFAF 125 billion. The objective of this program is to improve access to water and sanitation services in targeted areas. The project will be implemented until December 2023 under the technical supervision of the Ministry of Water and Sanitation.
The third agreement
The third agreement relates to the financing of the Health Services Strengthening Project (PRSS) with donations totalling USD 100 million or approximately CFAF 50 billion consisting of an IDA grant of USD 80 million, about 40 billion FCFA and a grant from the Global Financing Facility (GFF) of 20 million USD, about 10 billion FCFA. The objective of the project is to improve the quality and use of health services with special attention to the health of mothers, children and adolescents, nutrition and disease surveillance.
The total amount of these three financing agreements is approximately 235 billion FCFA.
The signing of these agreements increases the number of operations to forty in favour of thirty projects for a total volume of 2,339.52 million USD.
Prime Minister Paul Kaba THIEBA, on behalf of the Government and people of Burkina Faso, reiterated his thanks to Mr. Hafez GHANEM and the World Bank for the efforts made for the development of Burkina Faso.