Benin Financing Deal Raises US$563 Million From Banks
International banks provide €500 million (US$563 million) to Benin over 12 years, backed by an African Development Fund guarantee. The post Benin Financing Deal Raises US$563 Million From Banks appeared first on The Rio Times .
The African Development Bank Group (AfDB) announced a US$563 million financing deal for Benin on 29 September 2026, with a 12-year maturity period. Backed by the African Development Fund with a partial credit guarantee, the loan aims to support education, health, water, infrastructure, renewable energy, farming and job creation for young people and women.
The African Development Fund has not disclosed the specific lenders, but it provides a second-layer protection through second-loss insurance from the Islamic Development Bank Group's insurance subsidiary. The AfDB describes the deal as a "landmark transaction" and a "fully aligned" operation with its new strategic vision, highlighting the potential of guarantees to mobilize capital-market resources at scale.
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