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Benin: World Bank to provide $730.93 mln by 2023 to support local projects

Monday, 11 March 2019 15:12
Benin: World Bank to provide $730.93 mln by 2023 to support local projects

The World Bank will provide $730.93 million to Benin, Kochikpa Olodo, operations analyst at the World Bank, indicated in an interview with Xinhua last week.

The official indicates that apart from the $730.93 million, a $300 thousand trust fund will also be established in the coming five years to fund twelve projects in three key areas. These sectors are structural transformation for competitiveness and productivity, investments in the human capital as well as resilience building and reduced vulnerability to climate change.

These funds are aimed at improving the country’s agricultural productivity and diversify its exports as well as boosting its energy production and private investments.

This new programme falls within the framework of the government action plan requiring an investment of about $15 billion. In late September 2018, it indicated that 88% of the required funds had been raised.

For 2019, the country expects a 7.9% growth.

Moutiou Adjibi Nourou

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