AfDB Backs Burkina Faso Poverty Reduction Strategy

The African Development Bank has approved a financial assistance package designed to support Burkina Faso’s poverty reduction support program. The package includes a USD14.8 million grant and a USD24.7 million loan, which will be both drawn from the bank’s concessional arm, the African Development Fund.

The assistance will be used for Burkina Faso’s Fifth Poverty Reduction Strategy Support Program, which focuses on creating conditions to promote diversification of the country’s economy.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.