The West African Development Bank (BOAD) has approved a total of 501.6 billion FCFA in new financing following the ordinary session of its board of directors held last week, including 131.5 billion FCFA earmarked for Burkina Faso.
According to a statement seen by APA on Friday, the sub-regional institution validated 17 operations in favour of several member countries during the meeting held on 25-26 March, notably Burkina Faso, Senegal and Côte d’Ivoire.
For Burkina Faso, the financial commitments cover four strategic projects in the agricultural, energy and food security sectors.
BOAD approved 50 billion FCFA to support the cotton sector.
This funding will finance the purchase of 120,000 tonnes of agricultural inputs for the 2026/27 cotton campaign, with the aim of boosting yields and strengthening the crop’s contribution to the national economy.
In the energy sector, a loan of 16.468 billion FCFA was granted to the National Electricity Company of Burkina Faso (SONABEL) for the expansion of the Koudougou photovoltaic solar plant.
The project will increase capacity to 40 MW, coupled with a 10 MW/30 MWh battery storage system.
The infrastructure is expected to improve access to electricity, enhance grid stability and help reduce carbon dioxide emissions.
Additionally, the National Hydrocarbons Company of Burkina Faso will receive 45 billion FCFA to import approximately 500,000 cubic metres of liquid and gaseous hydrocarbons.
This operation aims to secure the country’s supply of petroleum products amid tensions on energy markets.
Finally, a 20 billion FCFA refinancing line was granted to Coris Bank International.
This facility will support renewable energy projects and strengthen the capacity of the National Society for the Management of Security Stocks to build up food reserves for the 2025/2026 campaign.
Through these interventions, BOAD reaffirms its position as a key partner in Burkina Faso’s development financing, with a strong focus on sectors that deliver high economic and social impact.
These investments are set to bolster the resilience of the national economy while supporting the country’s energy transition and food security.
HO/te/Sf/lb/jn/APA