Friday, December 13, 2019
Home > Economy > Burkina Faso signs $59m road financing deal with IDB

Burkina Faso signs $59m road financing deal with IDB

The Islamic Development Bank (IDB) has signed a financing agreement with Burkina Faso providing a $59 million contribution for the construction of the 91 km Dedougou-Tougan road in northwestern Burkina Faso.
The agreement was signed between Burkina Faso Minister of Infrastructure and Transport Jean Bertin Ouedraogo and IDB Group Chairman Ahmad Mohamed Ali at IDB Group headquarters.
The project aims to connect the agricultural areas in this region to the rest of the country and facilitate easy transport and marketing of the crops. The region is well known for its great economic potentials. Once operational, the road is expected to enhance the living standards of the residents in the region and alleviate poverty by providing new trade opportunities to the people. The project will also play a significant role in enhancing the regional integration between Burkina Faso and Mali, both member countries of the IDB.
Signing the agreement, the minister commended IDB Group’s important contributions in support of development efforts in his country and praised the position IDB Group has secured on the world development map.
The IDB Group chairman expressed satisfaction over the level of ongoing cooperation between Burkina Faso and the IDB Group stressing its willingness to further promote the development of Burkina Faso.
Since joining IDB in 1978, the IDB Group has provided Burkina Faso more than $770 million for 105 operations and projects in different sectors, including agriculture, power generation, health, education, infrastructure, rural development as well as trade.