• Mon. Dec 4th, 2023

Internal and External Fundraising


Sep 1, 2023

BUJUMBURA September 1st (ABP) – The Burundian ministry of finance, budget and economic planning recorded a positive achievements in terms of raising internal and external financial resources during the 2022/2023 financial year, according to a press release published by the said ministry.

As part of the raising of domestic financial resources, that ministry, through the Burundi Revenue Authority (OBR), collected, for the 2022-2023 financial year, domestic revenues which amount to BIF 1.636 billion, while the achievements for the 2021-2022 financial year amounted to BIF 1,352.4 billion, an increase of BIF 284 billion, from one financial year to the next.

Concerning the external fundraising, it is specified through the press release that with the resumption of cooperation, the amount of development project donations is worth $ 299,991,358 while the external funds raised in terms of project donations for the 2021/ 2022 financial year amounted to $ 20,876,685, an increase of $ 279,114,700.

In addition, the government of Burundi conducted negotiations with the IMF which resulted in an IMF Extended Credit Facility in the amount of $ 261 million disbursable in instalments over 38 months and an instalment of which was already disbursed on July 19, 2023. The details of project donations made during the financial year show € 19,700,000 for the transport corridor development project on Lake Tanganyika, phase I, in relation to the rehabilitation of the Port of Bujumbura with financing from the AfDB and $ 8,246,000 including $ 2,926,000 for the project to strengthen post-pandemic resilience and participation in the African Continental Free Trade Area (ZLECAF) and $ 5,320,000 for the emergency agricultural production project in Burundi (AEFPF-Burundi) with financing from the AfDB.

That detail also shows $ 420,700,000 for four projects, namely $ 150,000 for the Merankabandi project, $ 50,000,000 for the Support for Digital Economy Foundations (PAFEN) project, $ 120,000 for the Transport Resilience project (PRT) and $ 100,000,000 for the Transformation and Employment Project (PRETE), all financed by the World Bank.

Finally, that detail shows $ 53,700,000 including $ 10,750,000 granted in the form of a loan and $ 42,950,000 for the Rural Entrepreneurship Development project – PRODER Burundi – financed by the International Fund for Agricultural Development.