Rédaction Africa Links 24 with AZ Africa Links 24
Published on 2024-03-08 18:13:58
Burkina Faso receives XOF 29 billion from BOAD to produce fertilizer and locally transform its cotton
Ouagadougou, March 8, 2024 (Africa Links 24) – The BOAD, the development bank of the UEMOA countries, has granted two loans totaling XOF 29 billion to finance the on-site transformation of cotton seeds and the production of mineral fertilizer.
Under the leadership of BOAD President Serge Ekué, the 140th session of the Board of Directors granted a XOF 15 billion loan to Burkina Faso to finance a project for the purchase and transformation of 427,500 tons of cotton seeds into cotton fiber. The West African Development Bank (BOAD) also approved a XOF 14 billion loan to strengthen the logistical capacities of the Burkina Phosphate Exploitation Company (SEPB) and allow it to purchase the necessary raw materials for the production of mineral fertilizer accessible to small producers in the country.
Another BOAD loan, worth XOF 30 billion, will be used to expand and modernize RN4 (Ouaga-Fada axis) including the road serving Thomas Sankara University.
On this occasion, XOF 30 billion was allocated to the neighboring country of Mali in support of a major irrigation program in the Bani basin.
In addition to the fight against terrorist groups, Burkina Faso is also engaged in an agricultural and pastoral offensive to quickly achieve food sovereignty.
Burkina Information Agency
Read the original article(French) on Agence d’Information du Burkina
