Burkina Faso has received funding of more than 25 billion FCFA from the Saudi Development Fund (FSD) for road and hydraulic projects, the Ministry of Economy, Finance and Development told APA Monday.As much as 22.5 billion CFA will be used to partially finance the construction and asphalting project of the 115-kilometer N23 Ouahigouya-Djibo national road.
This will boost economic exchanges with the zone which has rich mining and agropastoral potentials, and attracts actors from Mali and Niger.
Then 3.3 billion CFA is for the financing of phase V of the Saudi Arabian rural development project in Africa, which aims at completing 110 boreholes in the Cascades and Haut-Bassins regions bordering Cote d’Ivoire and Mali.
Saudi Arabia, through the FSD, has been a privileged partner of Burkina Faso since the 1970s, and the SDF project portfolio is currently estimated at about 116 billion CFA for 12 loans and five grants.
APA learned the FSD plans to discuss new areas of collaboration with the authorities of Burkina Faso, in order to boost the partnership.