Burkina Faso's President Blaise Compaore says he will stay in power for a year under a transitional government, following a day of violent protests demanding his resignation.

Earlier, demonstrators angered by his bid to extend his 27-year rule torched parliament and government buildings.

Mr Compaore said he would hand over power once the transitional government had completed its 12-month term.

He also said he was lifting a "state of siege" he had declared earlier.

In the previous announcement, Mr Compaore called for the military to implement emergency measures.

This was followed by a press conference where army chief General Honore Traore announced that a "transitional body [would] be put in place in consultation with all parties".

"A return to the constitutional order is expected in no more than 12 months," he said.

UN chief Ban Ki-moon's special envoy for West Africa, Mohamed Ibn Chambas, will fly to Burkina Faso on Friday to try to ease the crisis, the UN said.