74.5 Billion FCFA Boost: Four Groundbreaking Financing Agreements Unveiled in Washington

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On October 23 and 24, 2024, on the margins of the Annual Meetings of the World Bank and the International Monetary Fund held in Washington DC, the Minister of Economy and Finance, the Minister of State, Romuald WADAGNI, conducted the signing of various financing agreements, for a total of 74.5 billion FCFA, with the OPEC Fund for International Development (OFID), the West African Development Bank (BOAD) and the Kuwaiti Development Fund of the Arab Economy (FKDEA). Three sectors were dealt with this time: agriculture, professional and technical training as well as access to drinking water.

With a contribution from 26 million US dollars, or about 15.6 billion FCFA, OPEC Fund for International Development (OFID) committed to extend the Market Gardening Development Support Project (PADMAR) to 27 new municipalities (Karimama, Malanville, Banikoara, Kandi, Péhunco, Parakou, Tchaourou, N’Dali, Nikki, Pèrèrè, Ouaké, Djougou, Ouèssè, Bantè, Glazoué, Dassa, Aplahoué, Toviklin, Bopa, Houéyogbé, Bohicon, Agbangnizoun, Toffo, Allada, Kpomassè, Sô-Ava and Akpro-Missérété). The implementation of the project will make it possible to increase, on the one hand, the income of market gardeners, and on the other hand, to improve the food and nutritional security of the populations.

Thanks to the support of the West African Development Bank (BOAD), three professional technical secondary schools (03) will be rehabilitated, built and equipped in Bohicon, Natitingou and Lokossa, for an amount of 30 billion FCFA.

Finally, the project to strengthen the drinking water supply system will be used in the towns of Bassila, Allada, Lokossa and Athiémé thanks to the support of the Kuwaiti Fund for Arab Economic Development (8.9 billion FCFA) and BOAD (20 billion FCFA).

These financing agreements were signed respectively with Mr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development (OFID), Serge EKUE, President of the West African Development Bank (BOAD) and Ghanem Al Ghunaiman, Managing Director of Kuwait. Fund for Arab Economic Development (KDEA).

Through the sectors involved in these agreements, the Government continues to demonstrate its commitment to putting the well-being of populations at the heart of its policy, particularly by raising the level of Human Capital, improving food security and strengthening access to services basic social. .