Captain Ibrahim Traore, head of Burkina Faso’s ruling junta, inaugurated the country’s first state bank, Burkindlim, on Friday. The bank, located in the capital, Ouagadougou, aims to enhance Burkina Faso’s economic and financial independence.
‘With integrity as its compass, this bank is a tool and a symbol of Burkina Faso’s economic and financial sovereignty,’ Traore stated on X.
The launch of Burkindlim marks a significant milestone for the nation, which has struggled with terror threats since 2015, severely impacting its economic and social-political sectors. Traore, who assumed power after a coup in September 2022, emphasised that the bank will focus on the socio-economic development of the country.
According to Traore, Burkindlim ‘will be closer to the people and will contribute to our country’s socio-economic development through a more appropriate method of financing structuring projects and programmes.’
As the junta leader, Traore encouraged both public and private development organizations and economic operators to utilise the new state bank, contributing to the collective construction of a sovereign economy dedicated to Burkina Faso’s development.
