BOAD provides XOF15 billion loan for the partial funding of the street paving and sanitation project in twelve municipalities in Benin
Cotonou, 22 July 2015. Mr. Christian Adovelande, President of the West African Development Bank (BOAD), and Mr. Komi Koutche, Minister of Economy, Finance and Denationalization Programmes of Benin, have signed a loan agreement under which BOAD will make available to the Beninese Government resources totaling XOF15 billion for the partial funding of the street paving and sanitation project in twelve towns in Benin.
The project consists of paving and sanitation of urban thoroughfares in the municipalities of Allada, Banikoara, Bantè, Bassila, Covè, Djidja, Glazoué, Gogounou, Matéri, Ouèssè, Ségbana and Toffo, as well as the lighting of the main thoroughfares to be constructed. “The project is consistent with the Bank’s strategic directions which give prominence to transport infrastructure development”, Mr. Christian Adovelande said.
Its implementation will contribute significantly to the improvement of the urban environment and traffic in these municipalities by reducing travel time to at least 60%, building capacities for the municipalities in urban infrastructure management.
The project falls within a programme involving all 77 municipalities in Benin, and will bring to 40, the number of towns that have received support from BOAD in a total amount XOF99 billion.
This new loan agreement brings to XOF234 billion the total amount provided by BOAD in the area of transport infrastructure, and to XOF495 billion, the overall amount of commitments to Benin, all sectors combined.
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