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
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...
Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
The government launched FUGAS, a new digital administrative and payroll system, as a strategic reform tool. The initiative forms part of a broader...
Yttrium oxide prices jumped from $6/kg to $220–320/kg after China restricted exports. South Africa prepares to enter medium-term yttrium...
Maersk will resume transit through the Suez Canal from December 2025 after a two-year diversion. The Suez Canal Authority has cut transit fees by 15%...
AGL Cameroon invested CFA1 billion ($1.8 million) in new port equipment. The company has already spent more than CFA8 billion on equipment in...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...