AfDB Group Approves U.S. $39.5 Million for Burkina Faso's Poverty Reduction Program

15 July 2010
Content from a Premium Partner
African Development Bank (Abidjan)
press release

The Board of Directors of the African Development Fund (ADF), the concessional Arm of the African development Bank (AfDB) Group approved on Thursday, 15 July 2010 in Tunis, a grant of 14.8 million USD and a loan of 24.7 million USD to finance the Fifth Poverty Reduction Strategy Support Programme (PASRP V) in Burkina Faso.

The program aims to foster strong economic growth and sustainable development, help create conditions conducive to the diversification of the economy while ensuring macroeconomic sustainability. The programme is designed to revitalize and improve the management of the country's public resources.

Aligned with the strategic directions of the government's Action Programme, particularly in the areas of improving economic and financial governance, the program is part of the Bank's strategy in Burkina Faso. The Bank's strategy focuses on the creation of conditions conducive for economic diversification and improving living conditions, with particular emphasis on the most vulnerable people.

The PASRP V will contribute in financing the government's Action Programme in collaboration with nine other Technical and Financial Partners, who are members of the General Budget Support Framework (CGAB), supporting the Strategic Framework for the Fight against Poverty in Burkina Faso.

Contacts

Senvyraj Maistry

Read the original article on African Development Bank (AfDB).

Tagged:
Copyright © 2010 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.