The Burkinabe Government secured a $50 million loan, equivalent to 27.5 billion FCFA, from the Arab Bank for Economic Development in Africa (BADEA).

According to the government spokesperson, Jean Emmanuel Ouédraogo, the objective of this operation is to guarantee the availability of petroleum products at a reduced cost.

This matter was discussed during the Council of Ministers on July 31, 2024, in Ouagadougou.

In reality, this government strategy, led by President Ibrahim Traoré, seeks to enhance the country’s energy security and make these resources accessible to foster economic development.

The authorities have also approved a bill that will be presented to the Transitional Legislative Assembly for ratification.

It is worth noting that in May, the government had decided to import an additional 60,000 metric tons of petroleum products each quarter to effectively meet the growing demand, estimated at least 8% per year, and achieve the main objective.