2023-11-11 10:56:38
Benin obtains funding for its education sector in Saudi Arabia. Two loan agreements for a total amount of 36 billion were signed Thursday, November 9 in Riyadh on the sidelines of the Saudi-Saudi Arabia-Africa Summit.
The loan agreements were signed by the Minister of State for the Economy, Romuald Wadagni, with two institutions. The Organization of Petroleum Exporting Countries Fund for International Development (OFID) grants Benin a loan of 25.5 million US dollars, or approximately 14 billion CFA francs. This funding is intended for the construction of modern technical and vocational high schools in the communes of Djougou and Ouidah.
As for the second loan agreement, it was obtained from the Saudi Fund for Development for an amount of 40 million US dollars, or more than 22 billion FCFA francs. With these funds, the government will build a higher normal school in Parakou for the training of teachers, and in Porto-Novo, a scientific high school.
“The implementation of these projects sis part of the operationalization of the government’s vision to reverse the trend from general education to technical and vocational education and training. This option aims to impact and direct 70% of learners towards this sub-sector”indicates a press release from the Beninese government.
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