World Bank approves development grant for Burkina Faso
27 July 2011
The World Bank has announced it will give a grant to Burkina Faso in order to help the country develop and improve its infrastructure.
It revealed that the group's Board of Executive Directors approved the Burkina Faso-Eleventh Poverty Reduction Support Grant.
This will see the African nation receive the equivalent of $125 million (£76.32 million) and the funding is aimed at supporting the country's growth.
The World Bank said it will do this by encouraging "improved country competitiveness, increased private investment and the reduction of poverty".
A spokesperson for the group added that the money will help consolidate development outcomes by "protecting access to decentralised basic services", as well as "promoting efficiency, transparency and accountability in the use of public resources".
The World Bank also recently announced it will assist in improving Burkina Faso's communication network by giving funding of $23 million to the country as part of its financial assistance of the West Africa Regional Communications Infrastructure Program.