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Wednesday, 17 February 2010

EU to invest 40 billion CFA F in Benin this year

The European Union (EU) will invest 41 billion CFA F in Benin in 2010, the organisation's head of delegation to the country, Mrs. Françiose Collet told the press here on Friday. The grant concerns only the 10th European Development Fund (FED), a programme that invested 65.2 billion CFA F in the country in 2009, said Collet. According to her, the cooperation between EU and Benin goes beyond FED and several projects are financed through facilities like water and energy supports on regional funds and financings by subjects for non-state actors or regional organisations. Food facility, which Benin profited from in 2009 after the global food crisis, to the tune of 13 million euros, or 9 billion CFA F, is also part of the cooperation. According to her, EU remains to date, Benin's first partner for development, with a non-repayable aid of 244 billion CFA F as part of 10th FED. The contribution of EU to fight poverty in Benin within the framework of the Strategy for Poverty Alleviation (SRCP), through the 9th and 10th FED, focuses on the strengthening of governance, the development of infrastructure and the speeding up of the support-budget growth. Apart from these sectors, EU also backs the actions aimed to help the civil society contribute to fight child prostitution, support the private sector or help protect the environment. Collet said the 9th FED, which allocated over 205 billion CFA F, has been, to date, completely committed, while the 10th FED, whose implementation is being carried out, is allocated 244 billion CFA F, or 313 million euros.

Source: African Manager