The Board of Directors of the African Development Bank Group (AfDB) has approved the institution’s intervention strategy in Benin for the period 2017-2021.
The strategy supports the Government’s Program of Action (PAG 2016-2021) for the country’s economic and social development, anchored on two main pillars.
The first pillar focuses on the development of agricultural value chains and agro-industry. It will support the agricultural sector and agribusiness through structured investments, improving the country’s business environment for increased private sector involvement, skills development and entrepreneurship, especially for youth and women, as well as access to finance.
The second pillar will strengthen infrastructure development and support competitiveness and regional integration. It mainly concerns transport and energy and will enable the opening-up of agricultural production areas and the strengthening of trade in West Africa, as well as better access to energy services, promotion of renewable energies, and rural electrification, particularly through off-grid solutions.
The strategy includes key cross-cutting themes, such as improving governance, reducing gender inequalities, developing skills and adaptation to climate change.
The implementation of this strategy comes at a time the Bank has approved the opening a national office in Benin, with a view to strengthening dialogue and leadership and improving portfolio performance and its impact on the country’s development.
The country office will also help to increase business opportunities, particularly with the private sector, in a context where the government intends to fund more than half of its investment through the private sector and enhance cooperation with civil society organizations.