BENIN | Overview
Official name: Republic of Benin
Official languages: French
Monetary unit: West African CFA Franc
Population (million – 2013): 10.32
Total area (sq km): 112,620
Located just north of the Equator, Benin is one of the smallest countries in Africa. Benin has borders with Burkina Faso and the Niger in the North, Nigeria in the East and Togo in the West. It is in the midst of recovery from the previous economic slowdown and the poverty rate is still high.
Benin aspires to be an emerging economy by 2025 by increasing economic growth and raising per capita GDP. To achieve the goal, the Government aims to capitalize on its comparative advantages in agriculture and its position as a regional trading center. Agricultural diversification, improved agricultural productivity, and an improved business environment are also among key reforms that will help creating competitive advantage, especially with the country position as a gateway to the Nigerian market and land-locked countries to its north.
Year joined ICD:
Number of projects approved: 0
Gross Approval ($US million): 0
Gross Disbursement ($US million): 0