Burkina Faso Prime Minister hosts Partner Conference to finance the Country National Economic Plan 2016-2020 in Paris on 7 and 8 December

Burkina Faso Prime Minister Paul Kaba Thieba

Burkina Faso Prime Minister Paul Kaba Thieba

OUAGADOUGOU, Burkina Faso, 01 December 2016,-/African Media Agency (AMA)/- The National Plan for Economic and Social Development (PNDES) 2016-2020 in Burkina Faso will be presented on 7 and 8 December 2016 in Paris, at the Étoile Saint-Honoré Conference Centre during a partner conference organised in partnership with the World Bank. This conference will be chaired by Prime Minister Paul Kaba Thieba in the presence of several members of the governments.

The conference will be organised in two stages. The Government will meet the traditional multilateral and bilateral partners, sovereign funds and financial backers on Wednesday 7 December, and private investors on Thursday 8 December.

The result of a participatory and inclusive process, PNDES is the guiding framework for economic and social development of Burkina Faso for the period 2016-2020, based on the presidential programme, the Burkina 2025 vision and international agendas for sustainable development.

This ambitious plan, which will be based in part on public-private partnerships, reflects the overall and sectoral national priorities during the mandate of President RMC Kaboré. It is part of a dynamic structural transformation of the economy and aims at improving the living conditions of Burkina Faso thanks to strong, inclusive and sustainable growth. The goal between now and 2020 is to achieve an average growth rate of 7.7% and create 50,000 jobs every year.

The overall cost of implementing PNDES is estimated at around 23.5 billion euros. The financing strategy chosen is based on a multi-stakeholder approach that involves all stakeholders both public and private. PNDES will be funded by the State to the tune of 15 billion euros. Additional funding of about 8.5 billion, or 36.2% of the cost of the plan is still required. This amount will be covered by the mobilisation of domestic and regional reserves, including Burkina Faso foreign reserves, emissions of government securities (bonds), the contributions of technical and financial partners (TFP) and the mechanism public-private Partnership (PPP).

PNDES revolves around three strategic areas:

“Institutional reform and modernisation of the administration” will be the foundation for a new Burkina Faso, a State under the democratic rule of law. The goal is to promote good governance (political, administrative, economic, local) and to create a healthy climate for investment;

“The development of human capital” through the improvement of the welfare of the people of Burkina Faso and their capacity for production. The ambitious plan is to bring the human capital in line with the needs of the economy, reduce social inequalities and to fight effectively against poverty (the poverty rate will drop to 35%, against 41% in 2014). A particular focus will be on young people and women to become real development actors. The education system is to be reformed and the supply of technical and vocational training is to be strengthened to facilitate their access to employment. Access to clean water and sanitation, health and housing are also priority areas for the government of Burkina Faso;

“Invigorate carrier sectors for the economy and employment” for the emergence of a modern economy, based on a competitive primary sector and processing industries, and dynamic services. Holders sectors that offer the greatest opportunities for investment are mining, agriculture, agri-industry and wider processing industries, as well as service industries. The creation of infrastructure across the whole territory (regional growth and competitiveness hubs, transport infrastructure) will boost local economies and ensure sustainable and harmonious development. The Burkina Faso government also plans to invest in the energy and digital sectors, both of which are essential for economic development. One key element is the huge potential of Burkina Faso in renewable energy and the development of information and communications technology.

Distributed by African Media Agency (AMA) on behalf of MK Conseil.

For more information, please visit: www.conferenceburkina2016.gov.bf

Media contacts:
African Media Agency (AMA)
Eloïne Barry
+1 917 244 8984

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