Burkina Faso wants to raise $9.5 billion to finance its development

Aug 30, 2016

The country is to issue bonds on regional and international markets.

Burkina Faso is looking to raise $9.5 billion - largely through financial markets - to finance its 2016-2020 development plan.

"We need $9.5 billion to implement a five-year development plan. The government will meet with donors and is also planning to raise funds on the regional market or through a Eurobond," said Prime Minister Paul Kaba Thieba, quoted by Bloomberg.

"We can go to regional markets to raise funds for our program. We can think of new forms of financing, issuing Islamic bonds. If we have to we can also go to international markets, like Senegal and Ivory Coast have done before us," he added.

The
National Economic and Social Development Programme
(PNDES) aims to restart projects that were frozen following the political crisis of 2014, and is expected to enable the economy
to achieve a growth rate of 7.3 per cent per year on average by 2020.ADNFCR-2976-ID-801824374-ADNFCR