The Republic of Benin and the Kingdom of the Netherlands sign a financing agreement for the construction of the new artisanal fishing port in Cotonou

On 26 February 2024, Romuald Wadagni, Benin’s Minister of State, Minister of the Economy and Finance in charge of Cooperation, and Joris Jurriens, Ambassador of the Kingdom of the Netherlands to Benin, signed a financing agreement to support the development of small-scale fishing.

The signing of this grant agreement follows on from H.E. Patrice Talon’s last visit to the Netherlands, during which several memorandums of understanding were signed.

The new artisanal fishing port will be equipped with cleaner, safer and more modern facilities that will offer not only the fishing and fish-breeding communities, but also the entire ecosystem and other stakeholders an increase in their activities, and thus their incomes. The new facilities will also make it possible to set up socio-professional services to improve working conditions and living standards.

The total cost of the project is €72 million. Invest International (DRIVE) is contributing €36 million in the form of a grant. The remainder is to be covered by a co-financing agreement with Invest International. The works will take 18 months, with handover in December 2025.

Benin Ministry of Economy and Finance