Rédaction Africa Links 24 with salamberea
Published on 2024-03-15 16:12:58
Burkina-Entrepreneurship-Launch-Project
Burkina/Entrepreneurship Financing: Government Launches Project of over 105 Billion CFA Francs
Ouagadougou, March 15, 2024 (Africa Links 24) – The Burkinabe government officially launched on Friday the Entrepreneurship Support Project, Skills Development, and Technological Adoption (ECOTEC) worth 105,825,603,836 CFA francs, lasting 6 years, to reach 18 thousand students and learners across the entire national territory.
The Burkinabe government officially launched on Friday, March 15, 2024, in Ouagadougou, the Entrepreneurship Support Project, Skills Development, and Technological Adoption (ECOTEC), with the aim of facilitating access to financing for Micro, Small, and Medium Enterprises (MSMEs) in the context of the country’s challenging security crisis.
The project, with a duration of 6 years (2023-2029), is financed at 105,825,603,836 CFA francs, with 98,983,911,300 CFA francs from the World Bank and 6,841,692,536 CFA francs from the Burkinabe government, and will reach 18 thousand students and learners.
According to the Minister in charge of Small and Medium Enterprises (SMEs), Serge Poda, who read the speech of the Prime Minister, Dr. Apollinaire Joachimson Kyélem de Tambèla, the project is a partnership between the government and the World Bank.
Mr. Poda explained that ECOTEC was specifically designed to support SMEs, to open up new growth prospects for them.
“Through this project, the government reaffirms its commitment to building a competitive private sector through technology adoption, skills development, and providing a better-trained workforce,” he said.
He emphasized that the private sector is the main job provider and wealth creator in the country, which contributes to the project’s formulation and puts particular emphasis on adapting vocational training to the needs of businesses.
He mentioned that the project was matured by structures under the ministries responsible for Finance, the promotion of SMEs, National Education, the Burkina Enterprise House, the Project to Support the Improvement of Teaching Quality, and the Interbank Guarantee Company of Burkina (SOFIGIB).
“ECOTEC will contribute to creating a conducive business environment and promoting green investments by supporting and financing over 2,000 SMEs,” added Minister Serge Poda.
The beneficiaries of the project include entrepreneurs, SMEs, students, learners, teachers/instructors, trainers/facilitators, master craftsmen, industrial associations, partner companies, and formal and non-formal training institutions.
The World Bank’s Resident Representative in Burkina Faso, Hamoud Abdel Wedoud Kamil, expressed his institution’s readiness to support the country for the success of the project.
Mr. Kamil noted that the private sector plays a crucial role through entrepreneurship for sustained and inclusive growth.
He stated that the World Bank is committed to supporting the Burkinabe government for a more resilient private sector and towards creating a more attractive environment.
Abdel Wedoud Kamil highlighted that the current project aims to improve the business environment for MSMEs, boost job creation, enhance access to financing, and combat the adverse effects of climate change.
It is worth mentioning that the preparation process for ECOTEC began in 2021.
Burkina Information Agency
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Read the original article(French) on Agence d’Information du Burkina
