ECOTEC project: supporting 2,000 micro, small and medium-sized businesses

2024-03-19 09:32:14

Strengthen access to finance, markets and technologies
A project financed at around 106 billion FCFA
Fruit of the partnership between the Burkinabè State and the World Bank

• From left to right, the presidium of the ceremony composed of the Minister of Commerce, Serge Gnaniodem Poda, the Prime Minister, Appolinaire Kyélem and the Minister of Education, Jacques Sosthène Dingara (Ph. Prime Minister)

The Ministry of Industrial Development, Commerce, Crafts and Small and Medium Enterprises (MDICAPME), in collaboration with the Ministry of National Education, Literacy and Promotion of National Languages (MENAPLN) with the With the support of the World Bank, on March 15, 2024, officially launched the Support Project for Entrepreneurship, Skills Development and Technological Adoption (ECOTEC). The ceremony took place in Ouagadougou in the presence of the Prime Minister, Me Appolinaire Kyélem de Tambéla.

The ECOTEC project will cover the period 2023-2029. During its execution, particular emphasis will be placed on adapting professional training to the needs of businesses. The Project has national coverage and is structured around 4 components: strengthening the environment conducive to the development of MSMEs; improve access to finance for MSMEs and green investments; develop a productive and entrepreneurial workforce; and Emergency Response (CERC).

• The resident representative of the World Bank in Burkina Faso, Hamoud Abdel Wedoud Kamil (Ph. Prime Minister)

It will be implemented by the Ministry of Industrial Development, Commerce, Crafts, Small and Medium Enterprises (MDICAPME), in collaboration with the Ministry of National Education, Literacy and Language Promotion national (MENAPLN).

The project launching ceremony was chaired by the Head of Government. In his speech, read by the Minister of Commerce, Serge Gnaniodem Poda, he indicated that this project was formulated to place, among other things, a particular emphasis on the adaptation of professional training to the needs of businesses. According to him, the project reinforces the actions already undertaken by the government to support MSMEs which have been severely impacted by the various crises nationally and internationally. “This is how the ECOTEC project will contribute to creating an environment conducive to business and the promotion of green investment through the support and financing of more than 2,000 small and medium-sized businesses,” he said. noted.

With a total cost of 105,825,603,836 FCFA, the project is financed by the World Bank (98,983,911,300 FCFA) and the Burkinabè State (6,841,692,536 FCFA). And in the Prime Minister’s speech, it emerges that thanks to this financing from this banking institution in the form of a loan, they will be able to offer financial and technical support to SMEs, facilitate their access to credit, strengthen their entrepreneurial skills and promote adoption of new technologies. “We will also put in place training programs adapted to their specific needs in order to strengthen their capacity to innovate and develop in a constantly evolving economic environment,” he continued.

• The family photo of the officials (Ph. Primature)

According to the resident representative of the World Bank in Burkina Faso, Hamoud Abdel Wedoud Kamil, the ECOTEC project will be implemented over a period of six years (June 2023-June 2029) with national coverage. In addition, he recalled that the ambition of his institution, through this project, is to support the government of Burkina Faso in its efforts to strengthen internal conditions for the emergence of a resilient and solid economic fabric.

In addition to entrepreneurs and SMEs, the beneficiaries of this project are also students/learners, teachers/educational supervisors, trainers/facilitators/master craftsmen, industrial associations/partner companies and formal and non-formal training structures.

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Box:

The expected results

The following results are expected from the implementation of the ECOTEC project:
Implementation of 5 major reforms of the business environment favorable to businesses;
Participation in the Capacity Building Program for 1,300 entrepreneurs and SMEs;
A partnership fund that will benefit 750 entrepreneurs and SMEs;
The granting of a new loan from a financial institution and partner (IFP) to 800 companies;
The participation of 17,650 students/learners in improved training programs;
Training of 750 teachers; etc.