Benin's Action Plan Bolstered With Major Donation From France

Benin's economy is accelerating towards the future
Benin's economy is accelerating towards the future
ssuaphotos | Shutterstock

Benin's economic action plan just received a big boost from France.

In a press conference on 5 March 2018, French President Emmanuel Macron announced a 275 million ($339.4 million) grant towards "Revealing Benin", Benin's multi-year economic development strategy.

The funding will be used for three projects:

  • Tourism development in Ganvie, Benin's beautiful lacustrine village situated on Lake Nokoue;
  • Sustainable urban development to mitigate the effects of climate change; and
  • A major hospital complex in Abomey-Calavi, a city close to Cotonou, Benin's economic centre.

Revealing Benin, a 2016-2021 plan by the federal government to revitalize Benin's economy and social services, encompasses 45 projects to tackle a number of issues. The projects aim to, among other things, modernise the country's agriculture sector, bolster transportation infrastructure, create energy self-sufficiency, guarantee universal access to clean drinking water, and develop Benin as a competitive tourist destination.

France's financial grant will accelerate Revealing Benin in several ways. The tourism grant will help bring out the remarkable potential Benin has to draw people from across the world to marvel at its beauty and history. The sustainable development and hospital construction funding will create many jobs, as well as build long-term capacity for the future.

If your business is interested in providing goods and services in Benin, to capitalise on the nation-wide developments taking place during Revealing Benin, please do not hesitate to get in touch with us.

Sources:

Ecofin Agency, Benin: France to Support the Government Action Plan (PAG) with over 275 million

Ecofin Agency, Benin: President Talon Unveils 2016-2021 Action Plan

Présidence de la Republique du Benin, Revealing Benin

Présidence de la Republique du Benin, Government Action Programme (PDF download)

Tags: economic action plan economic growth