Benin - Project Financing Benin - Financing
Projects are generally financed by local banks or development finance institutions such as the World Bank, the West African Development Bank, African Development Bank, Islamic Development Bank, or European Investment Bank. Procurements are either open or closed following pre-selection.
Access to traditional project financing depends on the size of the company, verification of the borrower’s financial records by an external chartered accountant, and demonstrated access to export markets as well as the reputation of the business. Businesses will find it difficult to obtain project financing from local banks if they are not well established in Benin and do not have verifiably sound credit records.
The U.S. Trade and Development Agency (USTDA) and the African Development Bank (ADB) offer funds for feasibility studies.
Multilateral Development Banks:
The Commercial Service maintains Commercial Liaison Offices in each of the main Multilateral Development Banks, including the Inter-American Development Bank and the World Bank. These institutions lend billions of dollars in developing countries on projects aimed at accelerating economic growth and social development by reducing poverty and inequality, improving health and education, and advancing infrastructure development. The Commercial Liaison Offices help American businesses learn how to get involved in bank-funded projects, and advocate on behalf of American bidders. Learn more by contacting the Commercial Liaison Offices to the Inter-American Development Bank (http://export.gov/idb) and the World Bank (http://export.gov/worldbank).
Web Resources
Commercial Liaison Office to the Inter-American Development Bank http://export.gov/idb and Commercial Liaison Office to the World Bank http://export.gov/worldbank