According to the Bank’s website, in recent years, IFC has supported the government of Benin to undergo multiple investment climate reforms aimed at reducing the time and costs of creating and operating businesses, hence making Benin a top performer in Doing Business. In line with IFC Creating Markets Strategy, agribusiness is identified as a key focus for IFC through the Country Private Sector Diagnostic. The Benin Competitiveness Project is designed to increase private investment in Benin’s agribusiness. The project is structured into two components: Enabling Environment Reforms to Unlock Agribusiness Investments & Identification of pipeline/pre-pipeline investments in the Agribusiness Sector. The project aims to improve the enabling environment for the agribusiness sector to attract investment by supporting the : (1) introduction of warehouse receipt system legal framework - in coordination with the World Bank Agriculture Competitiveness and Export Diversification project (PACOFIDE); and (2) access to seeds market through a regulation in support of private sector participation in the seed market, coupled with producer capacity building. At the same time, the program will identify potential investments in the agri sector for future investment by IFC or other financiers.
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