This financing will support the import of essential goods and equipment, benefiting local businesses and SMEs.
The facility will enable Bank of Africa Benin to issue letters of credit and other trade finance instruments, facilitating the import of inputs, machinery, and telecommunications equipment. This support will contribute to the industrialization of Benin, particularly in the agro-industry and light manufacturing sectors.
By providing financing to both large corporations and SMEs, the AfDB aims to boost economic growth and create jobs in Benin. The facility will also prioritize projects that are climate-friendly and promote gender equality.
This partnership between the AfDB and Bank of Africa Benin underscores the commitment of both institutions to supporting sustainable economic development in Africa.
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