COTONOU — Benin is set to receive a major boost to its business and agricultural sectors after the European Investment Bank and Banque Internationale pour l’Industrie et le Commerce announced a €100 million financing operation targeting strategic value chains in the country.

The financing will support small and medium-sized enterprises and mid-sized companies, with a focus on cotton and textiles, soya, and cashew, three sectors considered important to Benin’s industrial development and job creation.

Business experts say the financing could improve access to credit for local companies while helping move Benin’s agricultural economy toward greater processing and value addition. The initiative is expected to support agro-industrial investment and strengthen links between farmers, processors, exporters, and financial institutions.

The programme also includes support for local businesses led by women and technical assistance designed to improve the sustainability and growth of smaller enterprises.

Economic analysts believe stronger financing for agricultural value chains could help Benin expand local production, create jobs, and improve the competitiveness of its export industries.

The new financing package marks a significant development for Benin’s private sector and could accelerate the country’s push to build a more industrial and value-added agricultural economy.