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HomeAfricaWADB grants Benin 5b CFAF loan for road construction

WADB grants Benin 5b CFAF loan for road construction

The West African Development Bank (WADB) has granted Benin a loan of 5.320 billion CFAF for the partial funding of the construction of the Ouidah-Tori-Allada road and the Allada Pahou-Tori slip road, which is 53.5 km long, official sources said in Cotonou.

The project is aimed at easing traffic and strengthening trade involving the south-eastern, the central and the northern parts of Benin. Trade involving Benin, Togo and Niger will also be enhanced by the project.

According to the sources, the project, whose total cost is over 23 billion CFAF, is co-funded by the Bank for Investment and Development of the Economic Community of West African States (EBID), to the tune of 5 billion CFAF and the Kuwait Fund for Arab Economic Development (KFAED) for 6.37 billion CFAF.

In addition to these partners, the project is also funded by the Abu Dhabi Fund for Development (5 billion CFAF), WADB (5.320 billion CFAF) and the Beninese government (2.005 billion CFAF).

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