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Signature of the subsidy contract for the implementation of the PACAO

Monday, November 4, 2019, Seat of the Chamber of Commerce and Industry of Burkina Faso in Ouagadougou.

SEM. the Head of Delegation of the European Union to Burkina Faso and the President of the Chamber of Commerce and Industry of Burkina Faso (CCI-BF) have signed the grant contract within the framework of the implementation of the Program of Support to the Competitiveness in West Africa (PACAO), Burkina Faso component.

With a total cost of CFAF 5,414,925,035, the Chamber of Commerce and Industry of Burkina Faso, identified as a direct operator of project implementation, contributes CFA 491,967,750 to sides of the European Union, the main funder.

The West Africa Competitiveness Support Program (PACAO) is implemented in the ECOWAS countries and in Mauritania. It is a program whose vision is to support a private sector that can support sustainable and inclusive development in each of these target countries.

The PACAO plans to focus on supporting the private sector and mainly local businesses as well as supporting the improvement of a business climate all essential for promoting development, job creation and fight against poverty. The program also gives priority:

- the development of a strong integration of local value chains at regional and global level;

- the creation of a more favorable business climate, particularly at the institutional, legal and sectoral policy levels;

- increased inter-regional trade and exports of diversified manufactured goods and intermediate products in various value chains capable of supporting the development and inter-regional trade of goods and services.
The PACAO, Burkina Faso component, aims to contribute to the structural transformation of the Burkina Faso economy by producing competitive goods and services with high added value to ensure growth, the creation of skilled and sustainable jobs and the increase of exports and income. To do this, three value chains have been selected namely (i) oil mills and cotton derivatives, (ii) honey and derivatives and (iii) solar and domestic energy.
This project, which lasts three (03) years, is under the technical supervision of the Ministry of Commerce, Industry and Handicrafts.

After signing the contract, the President of CCI-BF offered to SEM. the Ambassador a magnificent outfit Faso Danfani resulting from the processing of cotton.