(Ecofin Agency) - The African Development Bank will pump $372 million in the economy of Benin next year, the institution’s country manager John Andrianarisata (pictured) announced last week.

The manager said the money will be steered into eight projects in key sectors such as agriculture, transport, energy and sanitation. This aligns with AfDB’s new Country Strategy Paper (CSP) for Benin that aims to accelerate the structural transformation of the beneficiary country’s economy. The Bank wants to help Benin reach inclusive growth, generate decent jobs, while ensuring the transition to a green economy.

The announcement comes in a favorable national economic context, marked by positive macroeconomic performance and an improvement in the business climate, despite sub-regional constraints. According to the International Monetary Fund, Benin should record a positive 6.4% economic growth this year, driven by the agriculture and transport sectors. Growth should accelerate in 2020 and remain sustained in the medium term, thanks to the dynamism of cotton production, construction and port activities.

Moutiou Adjibi Nourou