Burkina-Kuwait-Cooperation
Burkina: The Minister of Economy presents the Transition Action Plan in Kuwait
Ouagadougou, July 27, 2022 (AIB)- The Minister of Economy, Finance and Prospective Séglaro Abel Somé presented on Tuesday to the Kuwait Fund for Arab Economic Development (FKDEA), the Transition Action Plan and the financing needs for its implementation.
As part of his visit to Arab bilateral partners, the Minister of Economy, Finance and Prospective, Dr. Séglaro Abel Somé had an interview, Tuesday in Kuwait City, in the Emirate of Kuwait, with the director General of Operations of the Kuwait Fund for Arab Economic Development (KFAED) Mr. Waleed Sh. Al-Bahar.
The Minister of Economy, Finance and Prospective presented to his hosts the Transition Action Plan and the financing needs for its implementation.
Regarding the active portfolio of the Kuwait Fund for Economic Development, it is currently valued at CFAF 38.083 billion and covers the areas of road and airport infrastructure as well as agriculture.
The flagship projects of this fund are the manga CHR construction and equipment project phase I, the Donsin airport construction project “lot 2A”, the Ouahigouya-Djibo road construction project, the construction of the Tougan-Ouahigouya road, the development and enhancement project of 5,000 hectares in the Samendeni valley.
The difficulties encountered in the implementation of the said projects were the subject of exchanges between the two parties who undertook to iron them out to facilitate their proper execution.
The KFAED and Burkina Faso are impatiently awaiting the signing of the agreement for the effective start of the hydro-agricultural development project of 5000 ha in Sono Kouri.
To this end, Burkina Faso has requested the support of the KFAED for the outcome of the request submitted to the Abu Dhabi Fund for Development (ADFD), with a view to closing the financing of this project.
Minister Séglaro Abel Somé also returned to the request submitted to the FKDEA for the financing of the construction project of the Banfora University Center, amounting to 13,446,434,215 CFA.
Arguments in support, Séglaro Abel Somé argued for the approval of this request for the financing of a key sector for the development of human capital.
Mr. Waleed Sh. Al-Bahar expressed solidarity with Burkina Faso, which is facing significant security and humanitarian challenges. He hailed the country’s resilience.
On the follow-up of the portfolio and cooperation relations, the KFAED praised the important role played by the diplomatic representation of Burkina Faso in Kuwait City, thanks to a rigorous follow-up of cooperation files.
The Kuwait Fund for Arab Economic Development will communicate to the Burkinabè party the orientations of its Board of Directors, but has already renewed its commitment to continue cooperation with Burkina Faso.
Confident in the future, Waleed Sh. Al-Bahar and his team have also made an appointment with Minister Séglaro Abel Somé, for the signing in the coming months of the financing agreement for the implementation of the hydro-agricultural development of 5000 ha in Sono Kouri.
Burkina Information Agency
WIS
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