The Organization of the Petroleum Exporting Countries (OPEC) Fund signs US$20m loan with Burkina Faso, attends inauguration of health and education facilities
Agricultural Value Chain Support Project (PAPFA) aims to contribute to poverty
alleviation and to enhance food security in Burkina Faso
VIENNA, Austria, December 9, 2019/ --
The Director-General of the OPEC Fund for International Development (the OPEC Fund) Dr Abdulhamid Alkhalifa has signed a US$20 million
development loan to help finance Burkina Faso’s Agricultural Value Chain Support Project (PAPFA).
Dr Alkhalifa signed the loan in Ouagadougou with Burkina Faso’s Minister of Economy, Finance and Development, Lassané Kabore. PAPFA aims to
contribute to poverty alleviation and to enhance food security in
Burkina Faso. Specifically, the project will help crop and vegetable
farmers adopt efficient technologies related to the production,
processing and storage of produce, ultimately enabling them to increase
sales in local and regional markets.
Dr Alkhalifa said: “This latest OPEC Fund loan demonstrates our
continued commitment to a striving country that retains hope, despite
the challenges it still faces. It is our way of saying: ‘we are your
partners’.”
While on the high-level mission to the West African country, Dr
Alkhalifa attended the inauguration ceremonies of two major development
projects co-financed by the OPEC Fund – the Hospital of Ziniaré and the
University of Ouagadougou. The inaugurations were held under the aegis
of the President of Burkina Faso, Roch Marc Kaboré.
The University of Ouagadougou project was co-financed by the OPEC Fund
in partnership with the Arab Bank for Economic Development (BADEA) and
the government of Burkina Faso. The new and expanded facilities include
dormitories and provide a better academic environment. Approximately
18,500 on-campus students are expected to benefit.
Dr Alkhalifa said: “Ensuring inclusive and quality education for all –
and promoting lifelong learning – is a fundamental ingredient to
sustainable development. To see such a project come to life is inspiring and I believe this university will enable many people – young and old – to play a role in advancing the development of Burkina Faso, and more
generally, in contributing toward a more equal global society.”
At the ceremony, Dr Alkassoum Maïga, Burkina Faso’s Minister of Higher
Education and Scientific Research, conferred Dr Alkhalifa with L’ordre National de l’Etalon – a national honor in recognition of the OPEC Fund’s continued support
of development in the country. The Minister conferred the honor on
behalf of President Kaboré. Dr Alkhalifa said he was proud of the OPEC
Fund’s work with Burkina Faso and honored to receive the decoration on
behalf of the organization.
The Hospital of Ziniaré – a modern and fully equipped health center in
the town of Ziniaré, 35 km from the capital Ouagadougou – is also
co-financed by the OPEC Fund, BADEA and the government of Burkina Faso.
The hospital provides access to specialized, high-quality healthcare
services and is expected to improve maternal / infant health and fight
diseases endemic to the area.
Dr Alkhalifa said: “The enjoyment of the highest attainable standard of
health is one of the fundamental rights of every human being. The OPEC
Fund is committed to supporting access to healthcare as a goal in
itself, as well as to achieve the Sustainable Development Goals. Our
commitment is clear: as of December 31, 2018, our cumulative commitment
to development projects in the health sector was well over US$1
billion.”
The OPEC Fund has worked with Burkina Faso for more than four decades.
During that time, the organization has approved more than 40 public
sector loans amounting to nearly US$300 million to the country. The OPEC Fund has also approved 11 trade finance loans for a total of US$270
million, as well as a number of national grants.
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