The African Development Bank (AfDB) has granted a loan of US $ 10,249,000 to the Republic of Burundi on the 18th December 2014. The statement released by the AfDB indicated that the loan will help Burundi to support transition facilities and the “Burundi Vision 2025”.
This funding is intended to support the programme of economic governance reforms (PARGE-I). “The PARGE-I is the first phase of a series of two transactions that constitute the fiscal annual budget of 2014 and 2015. It also anticipates a list of measures that should trigger the second phase (PARGE II)” announced the statement.
The AfDB indicates that “The program is a continuation of previous budget support (called “PARE” IV) that has been granted since 2004 and have contributed not only to stimulate the implementation of PRSP I and II, but also, so specifically, the national system of public financial management and private sector development.”
“These operations will create conditions for inclusive and sustainable growth, to gradually bring the country out of its economic fragility” added the AfDB.
This programme, which main objective is to consolidate the conditions for inclusive growth, will contribute to sustainable reduction of unemployment and poverty. The impact of PARGE will be more significant on unemployment and poverty which are among the heaviest challenges that Burundi is face to get out of the vicious circle of economic fragility.