Public Management

World Bank approves $50mln to fight Covid-19 in Benin

World Bank approves $50mln to fight Covid-19 in Benin
Monday, 29 June 2020 17:35

The government of Benin will receive $50 million from the World Bank to continue the fight against the coronavirus pandemic.

According to Atou Seck, the World Bank's Country Director for Benin, the financing will make it possible to make up the shortfall in state budget resources to meet the basic social needs and those of the productive sector. It will support the reforms undertaken by the government to strengthen fiscal and debt management, improve the financial viability of the energy sector, and promote the development of the digital economy.

With 1,187 cases of coronavirus, including 19 deaths and 323 recoveries, Benin has in recent days witnessed a rapid propagation of the pandemic, which could lead to a strengthening of restrictive measures likely to slow down economic activity. The introduction of the disease into the country a few months ago had already led to a decline in growth prospects and government revenue for this year, while significant social spending is planned in the 2020 state budget.

The new funding brings to $90 million the total amount disbursed by the World Bank to the West African country as part of the fight against the coronavirus pandemic.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Nigerian billionaire adds $5.78 billion to his fortune in under four months Gains driven by strong stock performance of BUA Cement and BUA...
Gozem is in talks with the IFC for €21 million to expand in four countries Funding would support vehicle financing and the “Drive-to-Buy”...
Fitch affirms Cameroon at “B”, outlook negative Growth steady, debt contained; governance and political risks persist New vice-presidential role seen...
UBA's Nigerian home market posted a 1.7 billion naira ($1.1m) pre-tax loss in 2025, against a 364 billion naira profit a year earlier A 117 billion...
Most Read
01

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
02

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
05

As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...

From South Africa to Egypt: Why Nissan is reshaping its African strategy
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.