The government of Benin has been watching for opportunities on the international financial markets for a new foray into the Eurobond market, since its last transaction during which 500 million euros were mobilized in the form of bonds dedicated to sustainable development projects.

Benin became the first African country to issue international bonds dedicated to financing projects with a high impact on the achievement of the SDGs in 2021. Indeed, as a result of the increase in central banks' key rates, returns on secondary markets have increased. Most African countries have seen their sovereign ratings downgrade and credit more expensive for states, especially African countries, except for a few, including Benin.

The African Development Bank (ADB) is providing significant support to Benin's executive to help it deal with the negative effects of this poor economic situation favourable to a possible future market exit. In order to continue its vast investment projects, particularly those focused on the SDGs, Cotonou should try new forays into international financial markets to mobilize money at a good price with this facility which the ADB estimates at approximately UA 39 million (Units of Account), or approximately $50 million. According to Romuald Wadagni, Benin's Minister of Economy and Finance, “Through this support, Benin will become the first country to use a unique combination of credit enhancement for SDG financing.”