OUAGADOUGOU: The government of Burkina Faso, led by President Captain Ibrahim Traor©, has announced the creation of specialized units within the Ministry of Youth to oversee projects funded by the state for young entrepreneurs. This initiative aims to ensure that financial support translates into tangible benefits for both the youth and the broader community.
According to Burkina Information Agency, President Traor© unveiled this plan during his New Year address in Ouagadougou. He emphasized the importance of monitoring the impact of loans provided to young people, stating that the government intends to accelerate the deployment of these monitoring cells by the first quarter of 2025. The initiative seeks to confirm that the financial aid is used effectively, fostering job creation and economic growth in Burkina Faso.
The president highlighted that the monitoring cells will play a crucial role in ensuring that the funded projects not only aid the individual recipients but also contribute to the national economy by creating employment opportunities. He also mentioned the establishment of the National Agency for Inclusive Finance, which is designed to provide loans and track the progress of youth-led projects as part of a broader governmental strategy.
In his address, President Traor© commended the efforts of various stakeholders who have contributed to Burkina Faso’s resilience amidst challenging circumstances. He reiterated the government’s commitment to adjusting financial resources to better align with the aspirations of the nation’s youth, reflecting a continued focus on economic development and inclusivity.