The World Bank has made available to Benin an envelope of 100 million dollars (58.9 billion CFA francs) to support the country’s development policies, the financial institution announced Monday in a statement.
This funding, allocated last Thursday to Benin by the International Development Association (IDA), aims to promote strong and sustainable growth over the period 2019-2021 and to strengthen budgetary management.
According to Atu Seck, World Bank Operations Manager for Benin, “this financing will enable (Benin) to overcome major obstacles and, in so doing, maintain strong and inclusive growth, create more and better jobs and finally promote entrepreneurship, especially among women and youth.”
In addition, according to the statement, World Bank support will help improve the business climate and attract private investment. The financial institution also intends to assist the Beninese government in the management of public finances and debt.
IDA is a World Bank structure helping the world’s poorest countries.
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