To help the government of Benin strengthen public finance and debt management, the World Bank approved on December 16, 2020, $100 million in financing from the International Development Association (IDA). This financing also aims to improve the financial viability of the energy sector and to promote the development of the digital economy. This is the second development policy support operation intended to support the efforts undertaken by the public authorities to promote faster and more sustainable growth, weighed down in recent months by the coronavirus pandemic.

This financing reinforces the first operation, approved on December 12, 2019 for an amount of $100 million, and additional financing of $50 million approved on June 26, 2020 as part of the budgetary response to the coronavirus crisis. This program will support reforms relating to the mobilization and administration of tax revenue and debt management. According to the World Bank press release, “the reforms will help increase the financial viability and competitiveness of the Beninese Electric Power Company (SBEE), develop renewable energy technologies and promote a competitive, secure digital sector. and accessible”.

Atou Seck, World Bank Country Manager for Benin, notes that “Benin can achieve an economy that is more resilient to shocks and conducive to the creation of more productive jobs and SME innovation”. And don, "this funding contributes by ensuring the viability of the electricity sector and by strengthening competition in the provision of Internet services to improve the quality of service to citizens and at more affordable costs". He notes that "although it has compromised the efforts made in recent years, the coronavirus crisis can be an opportunity to accelerate reforms for rapid and sustainable growth". As a reminder, the International Development Association (IDA) is the institution of the World Bank that helps the poorest countries on the planet. Founded in 1960, it provides grants and loans at low or no interest to finance projects and programs that stimulate economic growth, reduce poverty and improve the lives of the poorest.