False! Burkina Faso’s President Ibrahim Traoré has not rejected loans from the World Bank

Claim: A Facebook user has alleged that Burkina Faso President Ibrahim Traoré has rejected loans from the International Monetary Fund (IMF) and the World Bank since taking office.

Verdict: False! Research conducted by DUBAWA revealed no report of Burkina Faso’s president rejecting loans from the IMF and the World Bank. On the contrary, Burkina Faso received funding from both institutions in 2023 and 2024, respectively.

Full Text

On Oct. 6, 2022, Captain Ibrahim Traoré was appointed president of Burkina Faso after Paul-Henri Damiba was removed in the West African country’s second coup.

In an attempt to catalogue the achievement under President Traoré, a Facebook user, African Report files, alleged that the Burkinabé leader has rejected loans from the International Monetary Fund (IMF) and the World Bank since he took over leadership.

In the post, the African Report files shared that: 

“Two years as the President of Burkina Faso, Captain Ibrahim Traoré has done so much for his country. Here are [is a] list of his achievements since he took over the leadership of the country: He has rejected loans from the International Monetary Fund (IMF) and the World Bank. He said, Africa doesn’t need the World Bank, IMF, Europe, or America.”

Data on Facebook shows that as of March 20, 2025, the post had garnered 1183 reactions, 195 comments, and 487 shares. The comments reflected mixed reactions, with some users calling on the leaders of other African nations to emulate the example of the Burkinabé president. 

For instance, Jones Kingsley Tobias commented:

“I love this man. Africa doesn’t need America or Europe. All needed is visionary leadership. Rejected loans from [the] World Bank and IMF because Africa is rich in natural resources that it can exploit to generate income rather than relying on international handouts and donors. Good man.”

For his part, Benji Ibrah shared,

“If Burkina Faso can do this, why not other African countries? Other African countries should borrow a leaf from his policies. Africa is able to help itself without [the] Western world.”

Meanwhile, several social media pages, including Legit News Africa, Chi Chi Poly Corner, BLUNT TV and Selma Na Kolleh Lomax, have all shared the claim.

Due to the widespread circulation of this claim, DUBAWA decided to investigate as part of its commitment to combating misinformation and disinformation.

Verification

DUBAWA first searched the websites of the IMF and World Bank to determine if they had paid loans to Burkina Faso since Ibrahim Traoré became president.

Findings from the investigation confirm that the IMF and the World Bank have paid two separate loans to Burkina Faso in 2023 and 2024, respectively.

The IMF shared in an official Press Release No. 24/219 on its official website on June 14, 2024, that:

“The Board also completed the First Review of the 48-month Extended Credit Facility (ECF) arrangement, approved on September 21, 2023. The approval of the first review enables the immediate disbursement of about US$ 31.7 million (SDR 24.08 million), bringing total IMF financial support under the arrangement to about US$ 63.4 million (SDR 48.16 million).”

Additionally, on September 19, 2024, the World Bank shared in a press release on its website that “it approved a $100.4 million Human Capital Protection Project to support the government’s efforts to deliver basic social services in Burkina Faso.”

Also, DUBAWA conducted a Google keyword search and found that no international media or organisation had reported the claim.

Conclusion

Based on the available evidence, there is no credible report that President Ibrahim Traoré has rejected loans from the IMF and the World Bank. On the contrary, Burkina Faso is on recard to have  obtained funding from both institutions in 2023 and 2024. Therefore, the claim that Traoré has refused loans from these financial bodies is false.