ESG & Investing
Benin Taps €350 Million Loan to Support Sustainable Development Goals
- Facility priced at 6% was fully underwritten by Deutsche Bank
- Frontier-market countries’ borrowing conditions deteriorated
Cotonou, Benin.
Photographer: Dan Kitwood/Getty Images
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Benin says it’s tapping the first loan in Africa to support its sustainable development goals to be guaranteed by a multilateral lender, as poor financing conditions force frontier markets to innovate.
The West African nation is raising 350 million euros over 12 years at an interest rate of 6%, underwritten by Deutsche Bank AG, Minister of Finance Romuald Wadagni said.