BENIN: $ 482 MILLION FROM THE WORLD BANK TO SUPPORT THE DEVELOPMENT
The Benin will receive a loan of $ 482 million from the World Bank to finance the Government's Action Program (CAP), announced on Tuesday, the director of the institution's operations in Benin Pierre Laporte.
This funding will be granted for the period 2018-2023, is part of a new cooperation agreement between Benin and the World Bank.
In addition to the $ 482 million the Bretton Woods institution hopes to mobilize other resources for projects on the agenda of the "Benin revealed" Talon government whose financing needs are estimated at 9039 billion FCFA on the period 2016-2021.
Thus, over the next 5 years, the Bank hopes to promote structural change to strengthen the competitiveness and productivity of the country's economic environment. The strengthening of human capital and resilience of the economy and the reduction of climate-related vulnerabilities are the last two lines of this new financing agreement.
Recall that the aid package of the institution in the West African country currently stands at over $ 700 million and mainly covers local and urban development projects, the environment, telecommunications, employment youth, energy, access to drinking water and transport.
Source : afriquemedia.tv