The Société des Textiles du Bénin (STB) has obtained the support of four major banks will allow the country to increase its processing capacities.

Un consortium de banques composé de la BIIC, la CBAO Bénin, la BGFI Bank et la BOAD granted funding from 52.3 billion FCFA ( approximately $86 million) to the Société des Textiles du Bénin (STB). The funds will be used to finance 60% of an 87.17 billion FCFA transformation project by STB (which will itself pay the remaining 40%). BOAD According to the details, the BIIC will contribute 21.3 billion FCFA, the BGFI Bank 10 billion FCFA, while 11 billion will come from the Beninese subsidiary of the Attijariwafa Group (CBAO Benin) and 10 billion FCFA from the. The project will build a total of ten textile factories, each with an annual processing capacity of 10 000 tons of raw cotton. Expected finished products include clothing, linens, and sporting goods