The World Bank has approved a US$93.41 million financing package that includes grants from the IDA and GEF to support rural development and sustainable land and forestry management in Burkina Faso.
20 December 2012: The World Bank has approved a financing package to support rural development, as well as sustainable land and forestry management programmes in Burkina Faso.
A US$93.41 million was granted to Burkina Faso, a package that includes a US$70 million grant from the International Development Association (IDA) and a US$7.41 million from the Global Environment Facility (GEF). It is expected that the funds will be used for capacity building within local governments to ensure the creation and management of development plans, the implementation of the rural land tenure reform law, the reinforcement of progress under the Community-Based Rural Development Programme and the encouragement of environmentally sustainable agriculture practices. Funds will also support local and regional infrastructure and services.
It is hoped that projects undertaken with the grant will not only increase household income, but also help ensure food security and the protection of local natural resources. Thirteen regional communities and 302 rural communes will be targeted. [World Bank Press Release]