https://en.sputniknews.africa/20240309/burkina-faso-receives-nearly-50-million-to-produce-fertilizers-and-process-cotton-reports-say-1065464601.html
Burkina Faso Receives Nearly $50 Million to Produce Fertilizers And Process Cotton, Reports Say
Burkina Faso Receives Nearly $50 Million to Produce Fertilizers And Process Cotton, Reports Say
Sputnik Africa
The West African Development Bank, established in 1973, includes Benin, Burkina Faso, Guinea Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo. According... 09.03.2024, Sputnik Africa
2024-03-09T14:08+0100
2024-03-09T14:08+0100
2024-03-09T14:08+0100
sub-saharan africa
economy
burkina faso
west africa
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Burkina Faso received nearly 30 billion FCFA (about $50 million) to produce fertilizers and process cotton, the Burkina Information Agency (AIB) reported.These loans were granted by the West African Development Bank (WADB), the media said. The first loan, of 15 billion FCFA (around $25 million), is intended to finance a project to purchase and process 427,500 tons of seed cotton into fiber cotton, the outlet shared.According to the media, the second credit amounts to 14 billion FCFA (about $23 million). It aims to strengthen the logistical capacities of the Burkina phosphate exploitation company (SEPB).The latter will thus be able to purchase the raw materials necessary for the production of mineral fertilizer, accessible to small producers in the country, the report revealed.Finally, a separate loan of 30 billion FCFA (about $50 million) granted by the WADB will reportedly finance the modernization of Burkina Faso's national road RN4 (Ouaga-Fada axis), including the track serving the country's Thomas Sankara University, the AIB noted.Established in 1973, the West African Development Bank comprises Benin, Burkina Faso, Guinea Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo. In 2001, the bank revised its mission statement to focus on reducing poverty, improving economic integration in the region, and fostering private sector growth.
https://en.sputniknews.africa/20240224/burkina-faso-leads-list-of-foreign-investors-in-cote-divoire-in-2023-1065227912.html
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economy, burkina faso, west africa, loan, fertilizers, bank
Burkina Faso Receives Nearly $50 Million to Produce Fertilizers And Process Cotton, Reports Say
The West African Development Bank, established in 1973, includes Benin, Burkina Faso, Guinea Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo. According to the bank's revised mission statement in 2001, it aims to reduce poverty, enhance economic integration in the region and promote private sector activity.
Burkina Faso received nearly 30 billion FCFA (about $50 million) to produce
fertilizers and process cotton, the Burkina Information Agency (AIB) reported.
These loans were granted by the West African Development Bank (WADB), the media said. The first loan, of 15 billion FCFA (around $25 million), is intended to finance a project to purchase and process 427,500 tons of seed cotton into fiber cotton, the outlet shared.
According to the media, the second credit amounts to 14 billion FCFA (about $23 million). It aims to strengthen the logistical capacities of the Burkina phosphate exploitation company (SEPB).
The latter will thus be able to purchase the raw materials necessary for the production of mineral fertilizer, accessible to small producers in the country, the report revealed.
Finally, a separate loan of 30 billion FCFA (about $50 million) granted by the WADB will reportedly finance the modernization of
Burkina Faso's national road RN4 (Ouaga-Fada axis), including the track serving the country's Thomas Sankara University, the AIB noted.
Established in 1973, the West African Development Bank comprises Benin, Burkina Faso, Guinea Bissau, Côte d'Ivoire, Mali, Niger, Senegal, and Togo. In 2001, the bank revised its mission statement to focus on reducing poverty, improving economic integration in the region, and fostering private sector growth.
