China gives Benin $34m in loans, grants

2011-09-22 09:14
Cotonou - China has given Benin $34m in loans and grants, part of which will fund an anti-piracy patrol drive off the coast of the west African country where hijackings have surged this year.

The aid package was announced by the office of President Thomas Boni Yayi, shortly after he returned home on Tuesday at the end of a week-long official trip to China.

Of the $34m, about $5,5m will go towards the purchase of a vessel to patrol the waters off the coast of Benin, which has seen 19 ships coming under attack this year alone, up from zero reported last year.

An international maritime watchdog has warned that the spate of ship hijackings off west Africa indicates the region could emerge as a new piracy "hotspot".

The rest of the funds will be development aid, the president's office said.

"This aid is made up of grants, debt relief and interest-free loans," it said in a statement.

Foreign Minister Arifari Bako said the aid was earmarked especially for road construction and the revival of agriculture in this cotton-producing country.

Yayi held talks with his counterpart Hu Jintao on further Chinese investment in the west African nation, as well as business leaders during the visit which coincided with a summer session of the World Economic Forum.

As is the case in a growing number of African nations, China is stepping up its investment, financing a number of important infrastructure projects in Benin, a former French colony with a population of some nine million people.

Such projects include roads and health infrastructure, as well as the country's largest stadium and a new foreign ministry building.

Read more on:    thomas boni yayi  |  hu jintao  |  benin  |  china  |  west africa
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining

Inside News24

 
/Movies

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Save up to 40% on outdoor accessories!

Tents, sleeping, day packs and more. While stocks last. Shop now!

Month End Madness Sale!

Save up to 60% on across a wide range of goods from books to electronics, DVDs and many more. Sale end 31 January 2015. Shop now!

Valentine’s Day gifts – 14 Feb!

Gifts to spoil him and her. While stocks last. Shop now!

30% off fragrances

Get 30% off fragrances for him and her. While stocks last. Shop now!

Up to 30% off All Textbooks

Save up to 30% off an extensive range of prescribed textbooks for all major universities and FET colleges. Shop Now!

OLX Free Classifieds [change area]

Horoscopes
Aquarius
Aquarius

Something is blocking the flow of things today and it is easy to become frustrated and pessimistic. The problem is that your mind...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.