Policy Framework for Investment in Agriculture in Burkina Faso

image of Policy Framework for Investment in Agriculture in Burkina Faso

Burkina Faso is the first country to apply the OECD Policy Framework for Investment in Agriculture to assess its policies to attract and benefit from investment in the sector. This whole-of-government assessment involved 17 Ministries and institutions, as well as the private sector, and has identified short- to medium-term measures to improve and strengthen the country's capacity for policy design.


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Burkina Faso: Progress and challenges

Since the early 1990s, Burkina Faso has been engaged in wide-ranging reforms to strengthen the foundations of its socio-economic development. The country’s macroeconomic performance has been encouraging, with an average annual growth rate of 6% between 1995 and 2008. Unfortunately, this good performance has not led to a significant improvement of the living conditions of most of Burkina Faso’s 15 million inhabitants. So far the country has been unable to take full advantage of its participation in trade globalisation and the opening to foreign direct investment. The domestic economy is still inadequately supported by the secondary and tertiary sectors and suffers from a lack of diversification, which makes it structurally fragile and leaves its economic growth vulnerable to hazards (particularly climatic) that are inherent to the agricultural sector. This chapter provides an overview of the country’s economic and institutional development since the beginning of the economic liberalisation process in 1991 and suggests a number of reforms for improving investment performance of Burkina Faso.

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