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
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs), enabling them to offer regulated capital markets...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the BCEAO and ECOWAS financial systems. Ministers from...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables tap-to-pay on POS terminals for the first...
(UMOA-TITRES) - UMOA-Titres announces the organisation of the 8th edition of the Regional Public Securities Market Meetings (REMTP), to be held on 27–28...
Most Read
01

Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...

Kenya targets UK market to boost mango exports
02

In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...

AGRA’s Lilial Githinji “Leadership capacity remains the missing ingredient in Africa’s food systems transformation”
03

Central bank launches project for real-time transfers across banks and mobile wallets System aims...

Guinea readies instant payment system to speed transactions and cut cash use
04

BOAD approves $35.7 million to upgrade Burkina Faso–Mali border road Project targets 130 km,...

Burkina Faso Secures BOAD’s $35.7 Million for Road to Mali
05

Fitch lowered Gabon’s sovereign rating to CCC- amid rising fiscal stress Payment arrears reac...

Fitch downgrades Gabon to CCC- as liquidity strains deepen
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.