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Tuesday, 13 December 2016

The EU strengthens its support for Burkina Faso with € 800 million

The National Economic and Social Development Plan lays the foundations for implementing the objectives of the new government by 2020. The European Commission intends to provide substantial support, worth € 800 million, for the plan. Commissioner Mimica made the following statement: ‘We have come together today to discuss the National Economic and Social Development Plan presented by the Burkina Faso Government to the international community. This is an ambitious plan, which should lead to the consolidation of democracy and sustainable development in the country. The European Union will provide support worth € 800 million for the efforts undertaken, to ensure that the population of Burkina Faso will rapidly see the effects of renewed stability and benefit from peace dividends’. During the conference, Commissioner Mimica will sign three financing agreements, two of which will be for budgetary support worth € 205 million. The first financing agreement, for € 136 million, is a Good Governance and Development Contract to consolidate the rule of law and governance and increase the government’s budgetary capacity between 2017 and 2020. This assistance will make it possible to support the implementation of the National Economic and Social Development plan and to strengthen dialogue with the government on the macroeconomic framework and public finances. The priority areas for this dialogue are demographics, social protection, civil registration, the independence and operation of the justice system, the fight against corruption, mobilisation of internal resources and the efficiency of public spending.