The International Fund for Agricultural Development (IFAD) will lend Benin $37.1mn for an eight-year, $149.1mn project to create rural jobs and businesses for about 50,000 households, Bénin Web TV reported after the funding was announced in Cotonou on October 26. IFAD's board document shows a financing gap of $15.0mn, or 10.1% of the total.
Analysis: IFAD's financing covers roughly one-quarter of the program, while its board expects another $41.7mn from businesses, banks and participants themselves. A further $15mn has not been secured. The IFAD package comprises three loans, including one on ordinary terms, rather than grants, while the OPEC Fund is expected to provide another $35mn loan. The project's reach therefore depends partly on farmers' and private lenders' willingness to participate. Input suppliers and agricultural financiers may benefit, but no date has been given for the OPEC Fund agreement or closure of the remaining funding gap.
Source: International Fund for Agricultural Development (IFAD), IFAD, President's report EB 2026/LOT/P.5 (May 14, 2026), ProPEA Benin, 2026-2033