Benin signs two financing deals with IsDB

Benin signed two co-financing agreements totaling 326.06 million euros with the Islamic Development Bank (IsDB) on October 12 in Bangkok. The agreements were made during the annual meetings of the World Bank Group and the International Monetary Fund (IMF), and involved officials from both Benin and the IsDB.

First agreement targets road improvements

The first agreement provides 306.89 million euros in IsDB financing to upgrade the Godomey–Ouidah–Hillacondji road corridor. The total project cost is estimated at 576.06 million euros, and the work aims to improve road safety, reduce travel times, and support trade along the Abidjan–Lagos corridor.

Road upgrades part of broader infrastructure plan

Benin has been working to modernize its road infrastructure to improve mobility and trade. In 2026, the government approved a program to rehabilitate nearly 18,000 km of rural roads, and similar projects are ongoing or planned on key corridors like the Cotonou–Niamey route.

Second agreement focuses on agriculture

The second agreement provides 19.17 million euros in IsDB financing for a project aimed at improving legume-based farming systems in five development zones. The goal is to enhance soil fertility, boost food security, and help farms adapt to climate change.

Agriculture is a major economic sector

Agriculture is a significant part of Benin's economy, employing 40.2% of the workforce in 2025, according to the International Labour Organization. To support the sector, the government allocated 31.87 billion CFA francs in fertilizer subsidies for the 2026-2027 campaign, an increase of 22% compared to the previous year.

IsDB reaffirms its partnership with Benin

Muhammad Al Jasser, chairman of the IsDB, emphasized the bank’s commitment to continuing its collaboration with Benin. The IsDB currently has 116 projects in the country, totaling 1.8 billion dollars, covering areas like transport, energy, agriculture, water, education, and health.