Benin President Patrice Talon, Niger President Mohamed Bazoum and Millennium Challenge Corporation CEO Alice Albright were joined by U.S. Secretary of State Antony Blinken to sign a compact that will further facilitate two-way trade between the United States and West Africa.
Investments total $504 million, to be further supported by contributions of $15 million each from Benin and Niger, according to a Millennium Challenge Corporation news release. MCC will invest $202 million in Benin and $302 million in Niger. MCC $1.1 billion of investment in critical sectors such as agriculture, irrigation, energy and infrastructure. These investments are expected to benefit an estimated 1.2 million people.
“The presidents of Benin @PatriceTalonPR and Niger @mohamedbazoum just signed the first-ever Millennium Challenge Corporation Regional Transport Compacts. These compacts will assist in reducing poverty and building inclusive, sustainable, economic growth in the region,” Blinken said in a Dec. 14 post on Twitter.
The compact has two significant parts. The Corridor Infrastructure Project includes the rehabilitation and upgrade of approximately 83 kilometers of road between the cities of Bohicon and Dassa, the release reported. The Efficient Corridor Operations Project will implement reforms by addressing regulatory and administrative factors.
