A poor country even by West African standards (with 44.8 percent of its population living on less than US$1.00 per day), landlocked Burkina Faso has suffered from recurring droughts. Although economic activity has risen sharply over the past ten years, the country’s economic growth is hindered by four factors: a poorly diversified agricultural sector, an inadequate road network, limited energy resources, and lack of access to ports. The Government provides subsistence to more than 80 percent of the population. Although traditionally politically stable, in recent years the country has faced troubling governance issues. Burkina Faso's 2012 Human Development Index gave the country a rank of 183 out of 187 countries.
How We Are Helping?
UNCDF supports Burkina Faso to meet its development objectives through several projects focusing on inclusive finance as well as on local development.
Working jointly with UNDP to support the rural and agricultural finance sector, the Programme d’Appui au Financement de la Production Agricole (PAFPA) aims to improve access to financial services adapted to the needs of small producers or actors of value chain of rice, tomatoes and cowpea. By facilitating access to financial services adapted to the needs of stakeholders in the three streams, the program will help improve food security, the auto/employability of young people and the securing of income in rural areas, especially for women.
UNCDF is also present in Burkina Faso with its Youthstart global programme, aimed at increasing access to financial services for low-income youth in sub-Saharan Africa.
Through its Appui aux Communes Rurales et aux Initiatives Intercommunautaires (ACRIC) project, UNCDF, in partnership with UNDP, is also supporting the Government’s efforts to release poverty through a progressive decentralization process aimed at strengthening local service and promoting economic development. Overall the initiative aims to put municipalities at the core of the Government’s response to poverty reduction, while also significantly improving access to basic social services and local income generation.
In addition, the Local Cross-Border Initiative (LOBI) programme, which, by nature, covers several countries in the region, aims at strengthening cross-border governance in the West Africa region through the definition of regional and national strategies and the promotion of pilot cross-border local development processes.