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World Bank supports development of private sector

    NAIROBI

    The World Bank said it approved on Tuesday a US $30.4-million loan to support Benin in diversifying its economy and improving the income levels of the population.

    The new Private Sector Development Project aims to improve dialogue between business representatives and the government, and accelerate privatisation of some key enterprises. It also aims to enhance the competitiveness of enterprises and help strengthen the credit institution for small and medium-sized enterprises.

    Emerging out of economic decline in the 1980's, Benin has maintained an annual growth rate of 5 percent since 1991, according to the World Bank.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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