The Government of Burkina Faso, through the Ministry of Economy and Finance, has announced plans to develop a program of public-private partnership (PPP) projects with a total investment of CFA3,290.4 billion (US$6.83 billion).
This program of public-private partnerships will involve 31 PPP projects from eight different government departments.
The Government of Burkina Faso, by launching this PPP program aims to attract investors and boost foreign direct investment (FDI).
The plan comes after the adoption in 2013 of a new law to regulate public-private partnerships in the country.
Over the last decade, the government of Burkina Faso has undertaken a series of reforms to create a favourable climate for foreign investment.
In this context, on May 30, 2013 the government adopted Law No. 023-2013/AN governing the framework law on investment in Burkina Faso, which lists public-private partnerships (PPPs) as a guiding principle of investment policies in Burkina Faso and a commitment to identify priority sectors and major projects to be implemented as PPPs.
On June 24, 2013 it was adopted the Law No. 020-2013/AN establishing the legal framework for PPPs in Burkina Faso (PPP Act) by Decree No. 2013-493/PRES.
The new PPP program will have the following five key strategic areas:
It is expected that the PPP program includes the Bagré agro-industrial project, the construction of the new international airport of Ouagadougou and a 10,000 housing PPP program in the country.
Burkina Faso is a landlocked country in West Africa with around 274,200 square kilometres (105,900 sq mi) in size. In 2014, its population was estimated at about 17 million. Agriculture represents 32% of its gross domestic product and occupies 80% of the working population.