Press Release

President Compaore of Burkina Faso receives
OPEC Fund Director-General
Al-Herbish assures Compaore of continued support

117/2005 November 25, 2005, Ouagadougou, Burkina Faso
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The Director-General of the OPEC Fund for International Development today rounded off his four-day mission to Burkina Faso with a courtesy call on President Blaise Compaore, to brief him on the visit and discuss strategies for future collaboration. The meeting followed talks earlier in the day with Prime Minister Ernest Yonli.

The Director-General informed Mr. Compaore about the role and work of the OPEC Fund and conveyed his satisfaction with the institution’s “decades-long cooperation with Burkina Faso.” Mr. Al-Herbish said it had been instructive and pleasing to visit Fund-sponsored projects in and around Ouagadougou. “We have been greatly impressed with the standard of implementation and with the level of professionalism and commitment among all involved,” he said. The Director-General assured the President that Burkina Faso and its needs would remain at the very top of the Fund’s priorities.

President Comparoe expressed his gratitude to the Fund for its many contributions to Burkina Faso’s development efforts, describing the institution as a “valued partner.” Referring to possibilities for future cooperation, the President highlighted the Government’s desire to pursue development of the private sector and suggested several areas of potential collaboration.

The meeting concluded with both President Compaore and Mr. Al-Herbish agreeing that the Fund’s visit to Burkina Faso had been a resounding success.

Since 1976, the Fund has provided Burkina Faso with financing in excess of US$142 million for a wide range of development operations, including balance of payments support, a commodity imports program, and projects in the agriculture, water supply and sanitation, education, health and transportation sectors. This amount also includes funding for debt relief within the context of the Heavily Indebted Poor Countries (HIPC) Initiative.