Burkina Faso Compact II

Burkina Faso Compact II Signing Ceremony
MCC hosts a ceremony to sign the Burkina Faso Compact II.
Burkina Faso successfully implemented a first compact with MCC from July 2008 to July 2014. The MCC Board of Directors has reselected Burkina Faso in subsequent years and on August 13, 2020, MCC and the Government of Burkina Faso signed a second compact.
Burkina Faso is a landlocked country in West Africa with a population of 18.6 million. It faces significant development challenges as indicated by its ranking of 182/189 countries in the United Nations Development Program 2019 Human Development Index, and 43.7 percent of its population is considered poor. However, Burkina Faso also has one of Africa’s fastest growing economies, with a 2019 GDP growth rate of six percent.
The compact is composed of three projects: The Strengthening Electricity Sector Effectiveness Project; the Cost-Effective and Reliable Electricity Supply Project; and the Grid Development and Access Project.
Additionally, this compact will also support Burkina Faso’s increased participation in regional power markets and the development of a potential MCC regional investment. MCC has increased flexibility to promote regional collaboration, trade, and economic growth through concurrent compacts designed to promote regional integration.
On December 08, 2020, the Government Burkina Faso ratified this compact and published it in a special edition of its Official Journal.
Financials
Compact Budget
Milestones
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Signed:
August 13, 2020
Compact Projects
As of December 29, 2020