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
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
The Democratic Republic of Congo and Angola will hold their third bilateral economic forum from March 31 to April 3 in Kinshasa. The forum will focus...
Burkina Faso ratified a $80.3 million loan from the African Development Bank to modernize transport infrastructure. The project targets road...
The European Union launched PanAfGeo+ Invest to promote EU investments in critical minerals across Africa. The program targets Democratic Republic of...
Tshisekedi orders Grand Inga agreements finalized within 60 days Government to adopt legal framework to unlock World Bank support Inga 3...
Kumbi Saleh is regarded as one of the earliest major political and commercial capitals of West Africa. Located in present-day Mauritania, near the border...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...