The European Union (EU) is to grant Benin some 50 million Euros (about FCFA 32 billion) in the form of budget support for the period 2012-2014, according to sources close to the European institution.
The EU has been supporting Benin’s strategy for poverty reduction, and it is Benin’s largest provider of development aid and budget support.
From 2004 to 2011, the EU disbursed to Benin nearly 186.02 million Euros (about FCFA 122 billion FCFA) in the form of budget support.
