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ADB poverty reduction loan

    ABIDJAN
    The African Development Fund (ADF) approved on Wednesday a US $29.76 million loan to Burkina Faso to finance its Poverty Reduction Strategy Programme (PRSP), the African Development Bank (ADB) said in a statement. The PRSP would involve the promotion of economic activities in both private and public sectors, the improvement of public finances and services especially for the poor, as well as an anti-corruption drive. The loan would also help the government mobilise budgetary resources in the overall aim of reducing poverty. The loan would cover these activities for the next 12 months, the ADB said in Abidjan. The ADF, established in 1972, is the small-loans branch of the African Development Bank Group and mainly focuses on poverty reduction. Since 1970, the bank group has disbursed more than US $290 million on operations.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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