AfDB grants $18m for Burundi’s economic reforms

The African Development Bank (AfDB) on July 12, 2012 said its Board of Directors has approved an $18 million grant from the Fragile States Facility resources to finance Burundi’s Fifth Economic Reform Support Programme (ERSP V).

This contribution, according to the AfDB is backed by a programme of reforms aimed at the promotion of accelerated economic growth by enhancing the Burundi government’s efficiency in the management of public resources, promoting private sector development, and creating jobs.

Burundi is considered as a fragile State and one of the poorest countries in Africa. The Human Development Index (HDI) put together by the UN Development Programme (UNDP) ranked the country 185th of 187 countries in 2011.

About 67% of the country’s population lives below the poverty threshold, said the AfDB.

By Ekow Quandzie