EBID has granted a loan in an amount of FCFA 2.8 billion to Access Oil. The financial assistance represents 60.42% of the total cost of the project involving the transportation and distribution of petroleum products in Burkina Faso.

The signing of loan agreement took place on Thursday, 10 September 2009 at the headquarters of the Bank. Present at the ceremony were Mr Christian ADOVELANDE, President of EBID, Mr Boureima Ouedraogo, Managing Director of Access Oil, officials of EBID and Access Oil as well as several invited guests.

The project mainly seeks to enhance the capacity of the operators in the petroleum products sector to supply Burkina Faso and the other landlocked countries such as Mali and Niger. It is worth stressing that the entry of national operators into the petroleum products distribution sub-sector is in line with the vision of the authorities of Burkina Faso who recently embarked on the process of deregulating the sector.

The new financial assistance brings the total commitment of EBID in favour of Burkina Faso to UA 87 005 304 (FCFA 63 billion).

The financing of the petroleum products distribution project of Access Oil is a testimony of EBID’s commitment to the private sector which is considered as the engine of growth and job creation. The Bank will, to this end, focus on the development of production capacity, improvement in the quality and competitiveness of industries and services. It is worth stressing that 40% of the commitments of the Bank are allocated to the private sector.

Lomé, 10 September 2009