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BURKINA FASO: COUNTRY ASSISTANCE STRATEGY

CHAIRMAN'S CONCLUDING REMARKS

Meeting of the Executive Directors

September 8, 2009
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The Executive Directors welcomed the Joint IDA/IFC/MIGA Country Assistance Strategy
(CAS) for Burkina Faso.

Directors commended the Authorities for Burkina Faso's steady growth performance and
highlighted the positive impact of the country's progressive reform agenda, fiscal planning and
discipline, on the country's relative macro-economic stability. They also welcomed the significant
improvements in access to basic services. However, Directors noted the recent deterioration in growth
rates and poverty reduction, resulting from the country's vulnerability to exogenous shocks and they
highlighted the challenges posed by the ongoing global financial crisis. In this regard, they encouraged
the Government towards sustainable diversification policies and to continue its efforts to strengthen
the agricultural sector. Directors underscored the importance of the decentralization process in
achieving broad-based, and quality access to social services and in focusing on the poor. They
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commended the Authorities' renewed commitment to improved governance and enhanced participation.
They also noted the risks posed to poverty reduction efforts and growth as a result of the country's high
demographic growth rate. Directors welcomed the Bank's support in this area, focusing on a few key
interventions that can bring rapid demographic changes. Some of them however, stressed the need to
develop long-term strategies to sustain the needed transformation. They also emphasized the need to
pay greater attention to gender-related issues.

Directors broadly supported the CAS focus on promoting growth through intensification and
diversification of the economy and enhancing the governance of social service delivery. They
welcomed the greater strategic selectivity and the focus on results, as well as the strategy's flexibility in
responding to the immediate impact of the crisis. Some Directors stressed the importance of continued
and sustained donor support if Burkina Faso is to weather the current global financial crisis. The need
for additional support for good performing countries such as Burkina Faso was also noted. On the issue
of implementation, Directors noted the good performance of the Burkina Faso portfolio and underscored
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the importance of strengthening government capacity and country systems, as well as the need to
develop more robust mechanisms for monitoring and evaluation. Directors urged the Bank to support
private-sector-Ied growth and highlighted the roles of the IFC and MIGA. In this connection, the
importance of improving the efficiency and depth of the financial sector and of increasing access to
diversified financial services was stressed.

Directors highlighted the importance of regional trade and integration for the land-locked
Burkina Faso. The need to take into account equity concerns in the implementation of the growth pole
approach was also emphasized.

Finally, Directors complimented the Government for achieving an advanced level of donor
coordination and commended the Bank for its proactive engagement in the country's donor
harmonization processes. They urged the Bank to maintain the momentum in achieving a joint CAS
with development partners.