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The OPEC Fund
for International
Development
  1. News & Stories
  2. OFID supports energy access in Burkina Faso
January 08, 2019

OFID supports energy access in Burkina Faso

January 8, 2019. OFID is contributing US$50 million in support of Burkina Faso’s energy access via a participation agreement with the International Islamic Trade Finance Corporation (ITFC). 

OFID’s contribution to the financing – the aggregate amount is US$123 million – will enable the West African country to purchase petroleum products from the international market. 

The total financing is expected to cover in excess of one-quarter of Burkina Faso’s required imports of petroleum products. OFID recognizes that energy security is critical to the country’s economic growth. 

OFID has a strong partnership with Burkina Faso and has committed more than US$575 million to development operations in the country since providing a Balance of Payments support loan in 1976.
 

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January 08, 2019

Operations in Burkina Faso

Dori and Fada N’Gourma Universities Expansion Project.

Approved
25.06.2020
Country
Burkina Faso
Focus Area
Education
Status
Ongoing

Petroleum Products Import Financing Project

Approved
27.02.2020
Country
Burkina Faso
Focus Area
Financial
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