IFAD and Benin sign US$37 million financing agreement to create jobs and grow resilient rural businesses

Cotonou, 26 October 2026. The International Fund for Agricultural Development (IFAD) and the Government of the Republic of Benin signed a US$37.1 million financing agreement for the Professional Integration and Agricultural Entrepreneurship Support Project (ProPEA), an eight-year initiative that will equip rural young people with technical skills, expand decent job opportunities and build resilient agricultural businesses.

The initiative will combine vocational and entrepreneurship training with start-up support, business advisory services, finance, insurance and productive partnerships. It will focus on agri-food value chains with strong potential for job creation and growth, including agriculture, aquaculture and poultry, while supporting entrepreneurs to manage climate risks and use natural resources more sustainably.

“This agreement reflects IFAD’s vision of rural communities where young people and women can turn their energy and ideas into thriving, climate-resilient businesses. By strengthening their skills, and providing them with access to finance and markets, we are investing in decent jobs, stronger livelihoods and a new generation of rural entrepreneurs,” said Bernard Hien, IFAD Regional Director for West and Central Africa.

ProPEA will operate across Benin’s agricultural development hubs, supporting around 50,000rural households and more than 360,000 people through training, access to finance and business development opportunities. With young people making up 60 per cent of participants, the project will have a strong focus on youth employment and entrepreneurship, while promoting the inclusion of women and persons with disabilities. By 2033, it aims to create employment opportunities for 21,000 young people and help participating rural households increase their incomes through stronger agribusinesses and more resilient agricultural practices.

The project reflects a shared commitment to mobilizing resources and expertise for sustainable rural transformation in Benin, bringing together IFAD, the Government of Benin, development partners, the private sector and project participants. With a total cost of US$149.1 million, the project includes a US$37.1 million investment from IFAD, complemented by financing and contributions from these partners.

The signing marks the first financing agreement between IFAD and Benin since IFAD opened its country office in Cotonou in March 2025.

Since 1978, IFAD has financed 15 projects and programmes in Benin with a total cost of US$729.6 million, including US$296.6 million in IFAD financing.

About The Author

EDITOR

See author's posts