Burkina Faso has raised 151.5 billion FCFA through the first subscription phase of its inaugural Diaspora Bond, known as the “Patriotic Loan,” exceeding its initial target of 125 billion FCFA.
The fundraising initiative, launched on May 6 by Minister of Economy and Finance Aboubakar Nacanabo, closed on June 6 with subscriptions surpassing the target by more than 26 billion FCFA, according to reports.
The bond was designed to mobilise savings from both Burkinabe citizens and the diaspora and was structured into two tranches: a five-year bond worth 45 billion FCFA with an interest rate of 6.75 percent, and a seven-year bond valued at 80 billion FCFA offering a return of 6.85 percent.
Authorities said the funds will be used to finance major development projects, including an agro-industrial free zone, energy infrastructure, social housing and road construction, as part of the government’s broader strategy to diversify funding sources and support national economic growth.
