IDB grants Benin 216.4 mln USD for higher education dev't

The Islamic Development Bank (IDB) has granted Benin government over 216.4 million U.S. dollars to sustain higher education development and integrated micro-finance program in the country, a release from the bank said Tuesday.

According to the release issued in Cotonou, about 166.4 million U.S. dollars is to finance higher education development project in the West African nation.

"This project is mainly purposed to contribute to the sector plan for higher education in Benin that aims at preparing qualified personnel with skills responsive to the economy of the country," it said.

For the Bank, the sector plan also aims at increasing access opportunity to higher education of good quality in Benin's two public universities, their enlargement and the provision of equipment.

Project recipients will reach 10,000 students in the year 2020 under the supervision of 116 lecturers, the release said.

Anther 50 million dollars is granted to integrated micro-finance program designed to improve living conditions in rural areas through economic empowerment of the population.

"It will help increase financing access for neediest people and small business owners, build microfinance institutions capacities, provide best services to recipients, and promote equity financing in the country," it said. Enditem