The interim president of Burkina Faso, Ibrahim Traoré, has initiated the construction of a large-scale dam without resorting to international loans. According to reports on social media, the project is to be financed solely with public funds, rejecting loans from organisations such as the IMF and the World Bank. The project, with an estimated progress of 61 %, is expected to be completed in August 2025.
However, the official discourse of a 'debt-free' nation has been questioned. A recent report denies that Burkina Faso has paid off its external debt of over $5 billion, including arrears to the IMF. Moreover, there is no indication that the country has completely rejected external financing from international entities.
Despite these doubts, the reservoir represents a clear commitment to self-sufficiency. The government argues that the infrastructure aims to diversify the economy, boost agriculture and reduce dependence on foreign aid. Moreover, the initiative fits into a broader strategy of greater state control over key sectors such as gold mining.
The project has attracted interest beyond national borders. For some analysts, building without borrowing sets a precedent for other African countries. However, the viability of the model depends on Burkina Faso being able to maintain public financing and manage its resources effectively without resorting to new debt.
Sources: reuters.com; voanews.com; instagram.com