OUAGADOUGOU – Burkina Faso has received a significant financial boost from the West African Development Bank (BOAD) to advance its agricultural and textile sectors.

According to Burkina Information Agency, BOAD has approved two loans totaling 29 billion FCFA to facilitate the local processing of seed cotton and the production of mineral fertilizer in the country.

During the 140th session of its Board of Directors, presided over by BOAD President Serge Ekué, the bank allocated a 15 billion FCFA loan to Burkina Faso. This funding is earmarked for a project aimed at purchasing and converting 427,500 tons of seed cotton into cotton fiber. Additionally, a 14 billion FCFA loan was granted to the Société d’exploitation des phosphates du Burkina (SEPB) to enhance its logistical capabilities. This support will enable SEPB to acquire the raw materials necessary to manufacture mineral fertilizer, making it accessible to the country’s small-scale farmers.

Furthermore, BOAD has committed another 30 billion FCFA for the expansion and modernization of the RN4 highway, including the road to Thomas Sankara University. In a parallel gesture of regional support, BOAD has also allocated 30 billion FCFA to Mali to assist a major irrigation project in the Bani basin.

These financial injections from BOAD are part of Burkina Faso’s broader strategy to combat terrorism and achieve food sovereignty through an agro-pastoral offensive.