BOAD grants a loan of 30 billion FCFA to the State of Burkina Faso for the construction and asphalting of the regional road n°11 (RR11) Kolinka-Fara-Poura Carrefour in Bukina Faso.
Lomé, June 10, 2021. Serge EKUE, President of the West African Development Bank (BOAD), and Lassané KABORE, Burkina Faso’s Minister of the Economy, Finance and Development, have signed a loan contract worth 30 billion FCFA for the construction and asphalting of Regional Road No. 11 (RR11) Kolinka-Fara-Poura Carrefour in Burkina Faso. Financing for this project was approved at the 123rd session of the BOAD Board of Directors, held in May 2021.
Its aim is to contribute to strengthening the economic integration of the Boucle du Mouhoun, Centre-Ouest and Sud-Ouest regions of Burkina-Faso by building modern infrastructure to improve the safety and quality of life of citizens by reducing : i) a 60% reduction in journey times on the routes concerned; ii) vehicle operating costs by around 40% from the first year of operation of the sections, and iii) the number of traffic accidents by over 50%.
The implementation of this project is perfectly in line with the vision expressed in the BOAD’s 2021-2025 strategic plan (dubbed DJOLIBA), of which Axis 1 is to ” contribute to the achievement of regional economic integration “.
This loan brings BOAD’s total commitments in Burkina Faso to 684.5 billion FCFA for all sectors, including 217 billion for the basic infrastructure sector, which includes the road infrastructure sub-sector.
For further information :
Communication, Marketing, Public Relations and Knowledge Department
Tel : + 228 22 23 25 65
Fax : + 228 22 23 24 38
Email : boadsiege@boad.org
About West African Development Bank
The Banque Ouest Africaine de Développement (BOAD) is the joint development finance institution of the countries of the West African Monetary Union (WAMU). According to Article 2 of its Articles of Association, the BOAD’s purpose is to “promote the balanced development of member states and achieve economic integration in West Africa” by financing priority development projects. It is accredited with the three climate finance mechanisms (GEF, AF, GCF). Since 2009, BOAD has been an observer at the UNFCCC and has played an active role in discussions concerning the construction of an international architecture for climate finance. Since January 2013, it has been home to the first Regional Collaboration Center (CRC) on the Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects. It is committed to carbon neutrality by 2023. WWW.BOAD.ORG