IDB Pledges More Resources to Benin Republic, As President Boni Yayi Signs US $12m Financing Agreement

Jeddah, KSA- The President of the Islamic Development Bank (IDB), Dr Ahmad Mohamed Ali has pledged more resources to the Republic of Benin as the country increases its effort to fight poverty, improve education and become an economic hub in Africa. President Ahmad Ali stated this when he received Mr Boni Yayi, the President of the Republic of Benin at the IDB headquarters Tuesday 10 June 2014, in Jeddah, where they also signed a US $12 million agreement to finance an education project in
The education project, which is part of the ten year education development plan of Benin Republic (2006-2015), will focus on constructing and equipping 339 primary school classrooms, (with a capacity of 20, 340 students) and constructing 189 houses for teachers in rural areas..
Dr Ahmad Ali expressed his thanks to President Boni Yayi for Benin’s continued support to IDB, citing example of the recent allocation by the Government of a land as Waqf (endowment) to the Islamic Solidarity Fund for Development (ISFD), which is the poverty alleviation arm of IDB, in a choice location in the economic capital of Cotonou.
Referring to the forthcoming Consultative Group Meeting on Financing for Development for Benin, coming up from 17-19 June, 2014 in Paris, Dr Ahmad M. Ali assured President Boni Yayi that “IDB will actively participate in the meeting to give its full backing to the country”.
During his visit to IDB, President Boni Yayi was accompanied by the Minister of Development, Economic Analysis and Prospective Mr. Marcel Alain de SOUZA, and the Minister of Public Works and Transport Mr Aké Natondé.
In his remarks, President Boni Yayi told Dr. Ahmad M. Ali, that IDB has always been there for Benin. “You devoted your life to fighting poverty, and as an elder Brother we appreciate your strong support” said President Boni. He added that Benin needs the solid participation of IDB to translate the vision of Africa, where agriculture contributes to job creation, where integration of African markets is strengthened, and where the educational system produces effective entrepreneurs.