Ouagadougou: The government of Burkina Faso has announced a significant restructuring of its national funds, consolidating them into four main funds to foster socio-economic development. This decision was reached during a Council of Ministers meeting.

According to Burkina Information Agency, the Minister in charge of the Economy, Dr. Aboubakar Nacanabo, stated that the consolidation aims to bolster the industrial development of Burkina Faso. The initiative is also intended to provide support to the private sector, with the new funds being named in local languages to resonate more with the community.

Dr. Nacanabo elaborated that the newly formed funds include the Burkinabe Fund for Economic and Social Development (FBDES), known as "Toogo" in Moore, translating to "Power"; the Social Assistance and National Solidarity Fund (FASSN), called "Seenimin" in Bwmu, meaning "Mutual Aid"; the Support Fund for Sport and the Private Press (FASPP), referred to as "Wassa Bondo" in Dioula, which means "the granary of success"; and the Support Fund for Education and Research (FOSER), named "Sngr baoobo" in Moore, translating to "Search for knowledge".

The Minister assured that all jobs related to these funds will be maintained, emphasizing the focus on preserving employment amidst the restructuring efforts.