Press Release

Burkina Faso welcomes OPEC Fund delegation

110/2005 November 22, 2005, Ouagadougou, Burkina Faso
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The Director-General of the OPEC Fund for International Development, Mr. Suleiman J. Al-Herbish, today begins an official visit to Burkina Faso, in West Africa, to reinforce longstanding ties with the country and review recently completed and ongoing operations. The Director-General, at the head of a ranking Fund delegation, will discuss with Burkinabe authorities several pipeline projects, including potential private sector initiatives, and sign two new agreements for fresh loans totaling US$12.89 million.

Mr. Al-Herbish recalls that the Fund has worked closely with Burkina Faso for nearly three decades and commends the progress the country has made over the period.  “We hope this visit will cement and lend further momentum to our partnership,” Mr. Al-Herbish said. 

The four-day visit will involve courtesy calls on HE President Blaise Compaore and HE Prime Minister Paramanga Ernest Yonli, as well as a working meeting with M. Jean Baptiste Compaore, Minister of Finance and Budget.  Additional discussions will be held with a number of other cabinet ministers.

The Fund delegation is also expected to tour a number of project sites; among them the Ouagadougou-Leo-Ghana Border Road, the National Public Health Laboratory, Ouagadougou University and the Ziga Dam. On Wednesday, Mr. Al-Herbish will participate in the handover of emergency food supplies, donated by the Fund to mitigate the impact of failed harvests. He will also inaugurate an HIV/AIDS Treatment Center, which was co-financed with the World Health Organization.

Since 1976, the Fund has provided Burkina Faso with financing in excess of US$118 million for a wide range of development projects and programs. Additional funding has been in grants and as debt relief within the context of the international Heavily Indebted Poor Countries (HIPC) Initiative.