BOAD grants a XOF30 billion loan to the Burkinabe State for the construction and asphalting of the Kolinka-Fara-Poura Carrefour regional road No.11 (RR11) in Burkina Faso.
BOAD grants a XOF30 billion loan to the Burkinabe State for the construction and asphalting of the Kolinka-Fara-Poura Carrefour regional road No.11 (RR11) in Burkina Faso.
Lome, 10 June 2021. Mr. Serge Ekue, President of the West African Development Bank (BOAD) and Mr. Lassane Kabore, Minister of Economy, Finance and Development of Burkina Faso, signed a loan agreement in an amount of XOF30 billion for the construction and asphalting of the Kolinka-Fara-Poura Carrefour regional road No.11 (RR11) in Burkina Faso. This project received approval during the 123rd Board meeting held by BOAD in May 2021.
The project seeks to contribute to strengthened economic integration of the Mouhoun belt, Centre-West and South-West regions in Burkina Faso by setting up modern infrastructure to improve citizens’ safety and quality of life in reducing: i) travel time by nearly 60% on the roads concerned; ii) vehicle operating costs by nearly 40% from the first year of commissioning of the road sections; and iii) the number of traffic accidents by over 50%.
The implementation of this project is fully consistent with BOAD’s vision outlined in its 2021-2025 strategic plan (referred to as DJOLIBA), the top priority of which is to “contribute to the achievement of regional economic integration”.
This loan brings BOAD’s total commitments (all sectors combined) in Burkina Faso to XOF684.5 billion, including XOF217 billion for the basic infrastructure sector which involves as well the road infrastructure sub-sector.
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About the West African Development Bank
The West African Development Bank (BOAD) is the common development finance institution of the member countries of the West African Economic and Monetary Union (WAEMU). It is an international public institution whose purpose, as provided under Article 2 of its Articles of Association, is to promote the balanced development of its member countries and foster economic integration within West Africa by financing priority development projects. It is accredited to the three climate finance facilities (GEF, AF, GCF). Since 2009, BOAD sits as an observer at the UNFCCC and actively participates in discussions on architecting an international climate finance system. As of January 2013, it has been home to the first Regional Collaboration Center (RCC) on the Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in the identification and development of CDM projects. The Bank is committed to carbon neutrality by 2023. WWW.BOAD.ORG.