The Beninese government through the Minister of Economy and Finance Romuald WADAGNI proceeded this Friday, November 15, 2019 to the signing of two loan agreements with the African Development Bank (AfDB). A ceremony which took place in the premises of the Ministry of the Economy and Finance in the presence of Mr. José TONATO, Minister of the living environment and sustainable development. 40,013,377,000 for the Support Project for the Pluvial Sanitation Program of the city of Cotonou (PAPC) and 40,518,463,890 FCFA for the Rural Electrification Project (PERU). These are the amounts of the two signed loan agreements.

With an estimated cost of around CFAF 254 billion, the Cotonou City Pluvial Sanitation Program Support Project (PAPC) aims to reduce the vulnerability of populations to flooding, promote the achievement of socio-economic infrastructure and to launch the economic and social development of Benin. Nearly 132 billion have already been mobilized from BOAD, EIB and AID for this purpose. The loan will essentially allow the financing of resilient drainage and related infrastructures, as well as the paving of streets leading to the Pa2 and QcQa basins. It will also be used to finance the management of solid waste existing around the basins.

The Rural Electrification Project (PERU) is estimated to cost 63,227,695,230 FCFA. The ADB loan will facilitate the increase in the rate of access to electricity in rural areas from 8.11% in 2018 to 9.74% in 2022.

After the signatures and exchanges of initials, Mr. John ANDRIANRISATA, resident representative of the ADB recalled that this support confirms the commitment of his Institution to support the implementation of the Government Action Program (PAG). He underlined the ADB’s readiness to support Benin. Therefore, José TONATO did not fail to express the gratitude of the Beninese to this financial institution.

For Romuald WADAGNI, the realization of PAPC and PERU, will contribute considerably to the improvement of the living conditions of the Beninese population and to economic development. From where he promised a follow-up of these funds so that they are well used. It should be noted that the last ADB intervention in Benin dates back to May 07, 2019. It brought the total commitments of this Institution in 2019 in Benin to 112,670,707,520 FCFA and enabled the financing of the Support Project for the Development of the Cashew Sector and Agricultural Entrepreneurship (PADEFA-ENA).