European Investment Bank and BIIC Launch €100 Million Facility to Boost Benin's Agricultural Supply Chains
The European Investment Bank (EIB) and the Banque internationale pour l’industrie et le commerce (BIIC) have initiated a €100 million financing facility aimed at enhancing agricultural value chains in Benin. This initiative, supported by a guarantee from the European Commission, targets small and medium-sized enterprises and mid-caps in Benin, focusing on cotton, soya, and cashew sectors. These sectors are deemed strategically important by the EU. The facility aims to support agro-industrialization and job creation in Benin while reducing European industry's reliance on concentrated global suppliers. The operation is part of the EU's Global Gateway strategy, which has mobilized over €300 billion in public and private capital since 2021. 
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