Burkina-Faso: The Arab Bank for Economic Development in Africa remains committed to supporting Faso

The Arab Bank for Economic Development in Africa (BADEA) has committed to supporting the development of Burkina Faso by providing a financial assistance package of 27.5 billion XOF, aimed at bolstering the country’s operations in importing petroleum products. This financing agreement was reached between the Burkinabe Minister of Economy and the President of the BADEA group.

This funding, directed to the national hydrocarbons company and following a previous agreement in October 2023, is intended to ensure Burkina Faso’s supply of petroleum products, directly benefiting the population by meeting their energy needs.

Additionally, this initiative will enhance import and storage capabilities, as well as transport, packaging, and distribution of petroleum products across the entire national territory.

It’s worth noting that as per the terms of the financing agreement, approximately 200 million dollars will be mobilized for Burkina Faso, contingent upon the successful execution of the project for which the funding has been granted.

Cedric KABORE