Ministry of Economy and Finance: Stakeholders in Talks to Finance PNDES II

The international conference for the mobilization of additional resources to finance the National Economic and Social Development Program (PNDES II) will be held on December 2nd and 3rd, 2021 in Brussels, Belgium.

As a prelude to this summit, the Ministry of Economy and Finance is organizing a framework for exchanges with technical and financial partners (TFPs) on October 12th and 13th, 2021 in Ouagadougou. The objective of this meeting is to make the various partners discover, the content of the PNDES II on the one hand, and on the other hand, present them the process and the actions underway.

“The implementation of the PNDES II has a cost of $33.4 million (19 billion CFA francs).” That is the announcement made by the Minister Delegate for the Economy, Finance and Development in charge of the budget, Edith Clémence Yaka during this meeting. According to her, more than $8.8 billion (5 trillion CFA francs) of the PNDES will be used for investments in the production support sectors, in the social sectors (health, water, and sanitation, education…).

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Fiscal decentralization is important so that local authorities can benefit from these resources

This, she said, will ensure a posture of local dynamization, structural transformation of the economy through industrial transformation to promote decent jobs, create conditions for improving the lives of youth, women, and all economic actors.

As for the partners, they stressed the importance of fiscal decentralization so that local authorities can benefit from these resources. Also, examining the deteriorated security context in Burkina Faso, they hoped that the implementation of the PNDES II would be rapid in order to face the security challenge. Finally, the representative of the European Union, Wolfram Vetter, expressed the commitment of his institution to accompany and support the government of Burkina Faso in the mobilization of funds.

The overall objective of the PNDES II for the period 2021- 2025 aims to “restore security and peace, strengthen the nation’s resilience and deeply transform the Burkinabe economy to generate strong, inclusive and sustainable growth.”
As a reminder, the Burkinabe state will contribute 63% of its own resources to the total cost of the PNDES, which is $33.4 million (19,030.70 billion CFA francs). The mobilization of external resources will be 28% of the total cost of the PNDES II, or $8.8 billion (5 trillion CFA francs). To collect this sum, the government has deemed it useful to organize a round table with the various parties in Brussels, Belgium, in December.

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(Featured image by stevepb via Pixabay)

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