World Bank has allocated 100 million U.S. dollars to finance energy and tax reforms in Burkina Faso, an official release said in the capital Ouagadougou on Thursday.

Burkina Faso Minister of Economy, Finance and Development Rosine Coulibaly and World Bank country manager to Burkina Faso Cheick Kante, signed the heads of agreement to that effect on Wednesday in Ouagadougou.

The financial support, including 55 million U.S. dollars loan and 45 million U.S. dollars grant, is expected to enable the West African country enhance both energy sector and public finances management, according to the official release from the Ministry of Finance.

Alpha Omar Dissa, Energy and Mining Minister, said it is a timely support as the government has undertaken to increase energy generation and to diversify sources so as to meet high domestic energy demands.

According the release, the funding will be partly allocated to increase energy production capacity through the establishment of 30 MW solar power plant and to extend energy grid in the country.