As part of efforts aimed at helping Burkina Faso tackle the challenges posed by prolonged drought and collapse of commodity prices and improve on food security, the World Bank has granted Burkina Faso a loan of over US$200 million to finance its agriculture resilience and competitiveness project.
The Burkinabe Minister of Economy, Finance and Development Lassane Kabore signed the loan agreement with Soukeyna Kane, World Bank’s Country Director for Burkina Faso yesterday in Washington D.C at the ongoing IMF/World Bank annual general meetings.
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The agricultural project is designed to boost agricultural productivity and market access for small producers and small and medium agribusiness entrepreneurs for selected value-chains in the project-covering areas.
It will be carried out in many regions across Burkina Faso, enabling the cultivation of 5,494 hectares of land, including 4,497 hectares with complete water resources control. This project, approved on August 30, this year, is expected to close on November 30, 2025.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.