Monday, April 27, 2015

Burkina Faso: EU supports electoral process with $11 million

The European Union (EU) will disburse 7 billion CFA Francs (about 11 million U.S. dollars) to support Burkina Faso’s electoral process, an official source said on Wednesday.

Most of the money will be disbursed during the transition period, said Burkina Faso’s government spokesman Frederic Nikiema.

Besides that, EU will also give Burkina Faso a loan of 109 million U.S. dollars as budgetary support for the 2015-2016 financial year, he said.

He added that the World Bank had given Burkina Faso budgetary support of 101 million dollars to support efforts to fight against poverty and unemployment.

Burkina Faso is currently going through a transition period following the fall of Blaise Compaore’s regime in October last year. The country is set to hold its general elections in October. Enditem

Source: Xinhua

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