2023-08-08 14:01:09
Benin’s Minister of State for Economy and Finance, Romuald Wadagni, and the President of the Arab Bank for Economic Development in Africa (BADEA), Sidi Ould Tah, sealed a strengthened partnership by signing three key chords. This historic ceremony, held at the ministry’s headquarters, marks a major milestone in Benin’s efforts to stimulate economic growth and address critical development challenges.
The collaboration between Benin and BADEA has been strengthened by the signing of two financing agreements and a framework agreement on the protection of investments. These agreements, of capital importance, open up promising new prospects for the future of the country. The ceremony was chaired by Minister of State Romuald Wadagni and BADEA President Sidi Ould Tah and attracted the attention of key government and industry figures.
The two financing agreements, totaling an envelope of 100 million US dollars, reveal a deep commitment to the socio-economic development of Benin. A substantial part of these funds will be allocated to a crucial hydro-agricultural development and adaptation to climate change project in the Mono River Valley. This ambitious project will extend over an impressive area of 1,500 hectares and will provide modern agricultural infrastructure focused on water management. In addition, part of these financial resources will support the recapitalization program of the West African Development Bank (BOAD), aimed at strengthening the financial capacities of this vital sub-regional institution.
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QA August 8, 2023
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