Economic development: Burkina Faso dissolves the FASI, FAIJ and FAPE to strengthen the “Faso Kuna-Wili” fund
Under the leadership of Captain Ibrahim Traoré, Burkina Faso has taken another significant step in its economic and social development policy with the adoption of major reforms within the Ministry of Sports, Youth, and Employment. Of these reforms is the creation of the «Faso Kuna-Wili» Fund
During the Cabinet meeting on Wednesday, May 29, 2024, chaired by President Ibrahim Traoré, three important decrees were adopted, marking the dissolution of three historical support funds.
Specifically, these decrees dissolve the Informal Sector Support Fund (FASI), the Youth Initiatives Support Fund (FAIJ), and the Employment Promotion Support Fund (FAPE).
These decisions stem from ambitious reforms initiated within the ministry, aiming to streamline structures and optimize financial resources towards more efficient mechanisms.
These reforms led to the creation of the National Financing Fund called «Faso Kuna-Wili» (FKW) during the Cabinet meeting on October 18, 2023.
This revamped fund positions itself as a crucial instrument to support self-employment initiatives among youth, women, and informal economy actors through innovative products tailored to market needs.
The transition to the «Faso Kuna-Wili» Fund involves dissolving the three previous funds, thereby ending contracts for all personnel involved.
The Cabinet has also instructed the responsible ministers to take all necessary measures to ensure optimal management of the assets and personnel of the dissolved funds.
The adoption of these decrees marks an important milestone in modernizing and energizing Burkina Faso’s economy.
These reforms demonstrate the Burkinabé government’s resolute commitment to creating an environment conducive to the emergence of innovative enterprises and supporting local entrepreneurship, a crucial driver of growth and sustainable development.
These reforms reflect Burkina Faso’s determination to strengthen its economic and social infrastructure to meet the challenges of the 21st century.
Moreover, the «Faso Kuna-Wili» Fund embodies hope for a new era of prosperity and opportunities for the country’s youth and entrepreneurs.
Maurice K. ZONGO
