Burkina Faso: AfDB unlock 3.3 billion CFA francs to support the cashew sector
29 March 2017
(Ecofin Agency) - The African Development Bank will release an envelope consisting of a loan and a grant, a total of about 3.3 billion CFA francs to support project financing for the development of cashew in the Comoé Basin as well as reducing emissions from deforestation and forest degradation (PADA / REDD-plus).
The agreement on the financing was signed last Friday by Antoinette Batumubwira, resident representative of ADB, Burkina Faso, and Hadizatou Rosine Coulibaly (pictured), the Burkinabe Minister of Finance. Over a period of 5 years, the project mainly aims to contribute to poverty reduction in rural areas, to reducing greenhouse gas emissions based on carbon storage capacity of cashew . It concerns the Cascades, Hauts-Bassins and South-West of Burkina Faso, located in the basin of the Comoé. Its total cost is about 6.4 billion CFA francs.
To recall, the ADB is not his first support Burkinabe cashew sector. The financial institution had already approved in February, a loan and a grant totaling $ 5.4 million under the PADA / REDD-plus.