The Beninese government and its financial partners have devoted more than 450 billion CFA francs (around $746.8 million) in recent years to modernizing the Autonomous Port of Cotonou, with a target date of 2026, José Didier Tonato, Benin’s Minister of Living Environment and Sustainable Development, announced in Cotonou on Friday.
At the celebration of the port’s 60ᵉ anniversary, Mr. Tonato stressed that by 2026, thanks to the completion of twelve major projects, the Autonomous Port of Cotonou will benefit from modernized infrastructure and state-of-the-art equipment, as part of a master plan financed to the tune of over 450 billion CFA francs.
The government’s objective is to increase the competitiveness and attractiveness of this strategic hub,” he explained. Commissioned in 1965, the Autonomous Port of Cotonou plays an essential role in Benin’s economy.
According to its newsletter Port Info, it accounts for 90% of the country’s foreign trade and contributes 60% of Benin’s Gross Domestic Product (GDP).