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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThis is good news for users of the Bohicon-Parakou road. According to the Ecofin Agency, the British Export Credit Agency UK Export Finance (UKEF) granted a loan of 125 million dollars to Benin to renovate 183.4 km of this road. This is a first for this British agency in Benin. The country is not as diplomatically close to Benin as France or other European Union nations.
This gesture is the concretization of a commitment of the United Kingdom during the summit on investment in Africa which took place at the beginning of the year. Boris Johnson's country had promised to act as a "partner of choice" for the nations of the continent. The Bohicon – Parakou road is strategic because it serves countries like Burkina Faso and Niger which have no outlet to the sea.
The renovation work on this infrastructure is scheduled to last 2 years. Sogea-Satom Uk is responsible for carrying them out. UK Export Minister Graham Stuart believes the loan deal will help boost his country's exports to Benin during the two-year road renovations.
The UK's export volume to the West African country was valued at £29 million or $36 million last year.
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