The Supplementary Poverty Reduction Strategy Support Program II, whose financing was today approved by the Board of Directors of the ADF, amounts to 15.50 million Units of account (US$ 22.64 million).
The reforms under the Supplementary Program hinge on three themes: acceleration of growth by consolidating macro-economic stability and strengthening competitiveness; improving the access to basic social services for the poor; and promoting good governance.
The program will permit continued reforms to consolidate macro-economic stability, achieve sustainable growth and strengthen economic competitiveness.
The enhanced competitiveness centers around the restructuring of the cotton network, the pursuit of the public enterprises reform especially in the energy sector (given its leading role in the economy) and the diversification of agricultural production.
The improvement of access to basic social services for the poor will seek to achieve the millennium development goals, specifically education-for-all and greater access of the underprivileged, especially women and children, to primary health care.
Improved governance will aim at the effective implementation of the decentralization policy, the adoption of various enabling legislations on the public finance act that has been revised to align it with West-African Economic and Monetary Union norms and the consolidation of public procurement reforms.
Bank Group operations in Burkina Faso started in 1970. To date, cumulative commitments stand at 486 million units of account (US$ 710 million) for 63 projects.
The Supplementary Poverty Reduction Strategy Support Program II is widely backed by the International Community. Co-financiers of the programme are: IDA, IMF, EU, France, Netherlands, Switzerland and Sweden.