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Burkina Faso to take out CFAF10bn loan to build five dams

Burkina Faso has decided to ask for CFAF 10 billion loan from the West African Development Bank (BOAD) earmarked for the construction of five dams in the Central Plateau region, APA learned from the ministry of Economy and Finance.This loan is part of the project for the mobilization and exploitation of surface water in the Central Plateau region.

Estimated to cost CFAF 11.09 billion, the project consists of the construction of five dams, the development of 195.3 hectares downstream of the dams, meant for agricultural and fish production as well as the capacity building for beneficiary populations and environmental protection.

The objective of the project, which is scheduled to start in December 2017, is to contribute to the sustained growth of the rural sector as part of the efforts to alleviate against poverty, strength food security and promote sustainable development.

The government was authorized by the parliament to take out a loan from the BOAD, with a subsidy from the West African Economic and Monetary Union (UEMOA) in bid to reduce the interest rate.

Published on 28.04.2020

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