Bangkok:The Islamic Development Bank (IsDB) Group has signed financing agreements amounting to £326 million to support development initiatives in Benin. Dr. Muhammad Al Jasser, Chairman of the IsDB Group, conducted a meeting with Hugues Oscar Lokossou, Delegate Minister responsible for External Resource Mobilization and Debt Management of Benin, during the 2026 Annual Meetings of the International Monetary Fund and World Bank Group.
According to Saudi Press Agency, the discussions centered on development opportunities in Benin, focusing on infrastructure, agriculture, and potential cooperation areas.
The IsDB and Benin have agreed to co-finance two significant projects. The first project involves the expansion and modernization of the Godomey-Ouidah-Hillacondji road. This project has a total cost of £576.06 million, with the IsDB contributing £306.89 million. The initiative aims to improve road safety, traffic efficiency, and regional connectivity, while reducing travel times and transport costs.
The second project focuses on the sustainable intensification of legume-based agricultural systems. This initiative has a total cost of £20.70 million, with £19.17 million funded by the IsDB. The project aims to enhance soil fertility, agricultural resilience, and food security through sustainable legume-based agriculture.