(Ecofin Agency) - Last week, the World Bank approved $100 million in favor of the Republic of Benin. The new funding, provided via the International Development Association (IDA), is expected to support the country’s development policies by strengthening public financial and debt management, improving the financial sustainability of the energy sector and fostering the development of the digital economy. It aligns with the country’s Government Action Plan (GAP) 2016-21 initiated by President Patrice Talon.

“This Development Policy Financing is the first of two operations designed to support the government’s efforts in promoting faster and sustainable growth in the period 2019-2021 […] Reforms will also raise the performance and competitiveness of the state utility company SBEE, promote renewable sources of energy, and support the development of digital infrastructure and affordable broadband access through regulation and competition,” World Bank said.

Let’s note that the World Bank Group has currently 19 projects in Benin for a total amount of $1.15 billion.

Moutiou Adjibi Nourou