WADB lends over 11 million USD to Benin
24 May 2011
The West African Development Bank (WADB) has granted a loan of 11.3 million dollars to Benin in order to contribute to the funding of a road infrastructure project.
This is the project to improve the Ouidah-Tori-Allada road and the Pahou –Tori access road, over a distance of 53.5 km, the total cost of which will be 49 million USD, reports the APA pres agency.
"The implementation of this project will contribute to the intensification of trade and to the intermingling of populations between Togo, Benin and Niger", explained the president of the WADB, Christian Adovèlandé, last Wednesday at the signature of the loan agreement.
This loan is in addition to Chinese financial aid, received on 7 May, of over 5 billion FCFA (10.6 million dollars), reports the Xinhua press agency.
This aid comprises a gift of 3.4 billion FCFA and a loan of 4.4 billion.