5 November 2012

Burundi Gets U.S.$2.6 Billion

Bujumbura — Burundi's development partners Conference, held from 29th to 30th October 2012 in Geneva, was a huge success as $2.6 bn was the total financial commitments in the plenary by some 125 delegations from development partners.

The financing needs of Burundi's Poverty Reduction Strategic Framework, second phase (PRSP II) for the next four years is estimated at 2.1 billion U.S. dollars and funding resources were expected to come from the Government of Burundi and its external partners respectively in a ratio of 48% and 52% of the total budget.

The financial support already promised by some development partners far exceeds these forecasts, this is a sign of the determination of Burundi's development partners to support the Government of Burundi in their efforts for social and economic development. Over the past seven years, Burundi has made significant progress in consolidating peace, promoting good governance, social, political and economic, the fight against corruption, good management of public finances and the improvement of the business climate to name but a few.

The partners who made solid commitments are; the European Union, the World Bank, the African Development Bank, the European Investment Bank, the United Nations Office in Burundi, the Saudi Fund for Development, IFAD, Belgium, Japan, the Netherlands, the United States of America, the Federal Republic of Germany (which has pledged to double its support for next year), France, Norway, Iran, the Aga Khan, Belgium BIO and the KAHAWATU foundation.

The Second Vice-President of the Republic, Dr. Eng. Gervais Rufyikiri reiterated the feelings of appreciation and gratitude from the Government of Burundi to all development partners for this renewed confidence. He said the Burundian people are willing to score some new progress in social and economic development.

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