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World Bank to Fund $85m projects in Benin Republic

The World Bank on Saturday said it would fund three development projects with the sum of 85 million dollars in Benin.

This is contained in a statement issued by the financial institution in Cotonou.

“The money will enable local councils to provide essential services, improve the business environment and facilitate youths to access employment,” it said.

According to the statement, the first disbursement of 30 million dollars will go for funding of the ongoing decentralisation programme by the local councils.

“The additional resources will be used for the construction of schools to host about 90,000 pupils and enable about 18,000 people to have access to clean drinking water,” it added.

The statement noted that a total of 270,000 people would directly benefit from the project between now and 2017.

It added that the second loan of 20 million dollars would be applied to the projects geared toward reduction of poverty and acceleration of economic growth.

“While the third loan of 35 million dollars will be spent on creation of jobs for the youths.

“The third project will focus on enabling youth to acquire new skills in sectors such as small commercial activities, agribusiness and tourism,” the statement said

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