The transition to Sustainable Economy can offer several important benefits for Burkina Faso. The quantitative analysis of this study demonstrates that in order to put Burkina Faso on the path of sustainable development, it is necessary to consider the natural environment as a determining factor of production as well as of economic stability and long-term prosperity. Only by doing so, will Burkina Faso be able to preserve, improve and if required, restore the natural capital as a critical economic asset together with a source of public welfare; especially for the underprivileged whose livelihood depend on nature [1].
The country already faces several serious losses of natural resources. In addition, socio-economic development is likely to be significantly affected by climate change [1] .
Key policies and governance approach
In its policy statement delivered on February 18, 2019 at the National Assembly, the newly appointed Prime minister Christophe Dabire focused on the resolution of Burkina Faso’s economic difficulties and offered measures to boost economic activity and improve the business and investment climate. He also promised that the government would strengthen reforms, including those contained in the minimum matrix of business climate reform, in order to improve Burkina Faso’s Doing Business ranking and foster the development of the private sector [1].
Successes and remaining challenges
Significant efforts are still needed to mobilize resources, especially in the appropriation of financial mechanisms, the mastery of advocacy techniques, the development of competitive projects, the design of business plans, and the support of stakeholders in calls for proposals.
Initiatives and Development Plans
The government of Burkina Faso adopted the National Program for Economic and Social Development (PNDES) with the aim to structurally transform the Burkinabe economy in order to generate strong, sustainable, resilient, and inclusive growth and thus create decent jobs for all and improve social well-being [1].
Goals and Ambitions
The expected impacts of the PNDES are the improved effectiveness of political, administrative, economic, local and environmental governance, the achievement of an average annual growth rate of 7.7% creating at least 50 000 jobs every year, the decline in the poverty rate from 40.1% in 2014 to 35% in 2020, the drop in the demographic growth rate from 3.1% in 2015 to 2.7% in 2020, the acceleration of the human capital development level and the advent of production and consumption methods guided by a sustainable development perspective [1] .
According to GGGI, green cities development will accelerate the achievement of the PNDES’s target related to the improvement of the living environment, access to water, sanitation and quality energy services, specifically the following results:
- everyone’s access to decent living, quality water and sanitation is guaranteed;
- access to quality energy services and energy efficiency are guaranteed;
- urban growth is planned and controlled. This will contribute to achieving SDGs 1, 6, 7, 11 and 13.
- Values adopted by Government under the NAP and PNDES were instrumental in assessing vulnerability and adaptation capacities to climate variability and change.
- The implementation of green investments would trigger robust economic growth and reduce the vulnerability of climate change, thereby mitigating economic losses.