The French Development Agency (AFD) is giving the Republic of Benin $41.5 million to renovate the lacustrine town of Ganvié. The agreement was inked Thursday by Benin’s minister of finance, Romuald Wadagni, the French Ambassador to the country, Véronique Brumeaux, and the AFD’s MD, Adrien Haye.
The sum is split into about $37.6 million of credit and $3.8 million of grant. With this project, the government of Benin wants to give a new face to the “Venise de l’Afrique,” currently on UNESCO's World Heritage Tentative List of nominations, in order to boost tourism revenues.
Work consists of the construction of a flood-adapted road between the towns of Akassato and Sô-Ava, the development of the Abomey-Calavi pier and fish market, the connection of residents to public water and electricity networks, as well as the rehabilitation of collective and community spaces such as the Maison de la Francophonie.
“The preservation of the biodiversity of Lake Nokoué, through the sustainable exploitation of its resources and the promotion of economic activities alternative to fishing, is also one of the aims of the project,” the French Embassy said in a statement. The project is expected to benefit about 50,000 people.
Moutiou Adjibi Nourou
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...
Ghana to submit UN resolution on slave trade March 25 Draft seeks recognition as gravest crime ag...
ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...
China Minmetals seeks new mining permits and technical cooperation in DR Congo. The initiative aligns with Congo’s push for local processing,...
Cameroon signed a $75 million concessional loan with the Saudi Fund for Development for a 77-km road project. The Sorawel-Dourbey road aims...
Huichuan Freeze-Dried Health Food plans to invest in a large-scale coffee processing plant in Ethiopia. The project aims to produce premium...
Amari Power Transmission reaches financial close with $50 million in secured funding. The project marks Africa’s first private electricity...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...
Top 50 ranking highlights women across core tourism service segments Tourism contributes $168 billion to GDP and supports over 24 million...