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
BADEA provides a $75 million term loan to Africa Finance Corporation to expand infrastructure financing capacity. AFC plans to channel the funds...
Afreximbank plans a $1 billion continent-wide single transit guarantee to cut customs delays and losses. A similar system already operates in...
BOAD will introduce a stock-market-listed composite index directly correlated with its financial performance. The instrument forms part of a broader...
ECOWAS Bank unveils plan to boost agricultural industrialization in West Africa Region lacks midstream processing capacity; over 85% of crops...
Most Read
01

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
02

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
05

Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...

Chad Reports Second Vandalism Attack on Key Internet Cable in Two Weeks
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.