China gives Benin U.S. $69 million loan

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Tuesday 03 Mar 2015 - 14:47 Makkah mean time-12-5-1436 China gives Benin U.S. $69 million loan (Google image) Porto-Novo, Benin (IINA) - China has given Benin a preferential loan of 40 billion CFA Francs (over 69 million U.S. dollars) to fund telecommunication infrastructure projects, diplomatic sources said, Allafrica news agency reported. The agreement was signed on Monday in Cotonou between Benin's Foreign Minister and African Integration Prof. Nassirou Arifari Bako and China's ambassador to Benin Diao Mingsheng. "The Internet promotes social and economic development, and the signing of this agreement is just meant to reinforce our cooperation relations," the Chinese diplomat said. From his side Benin's foreign minister said, “The signing of the agreement was another strong signal of China's willingness to continue supporting Benin's development process.” "This act comes at a time when Benin, just like other sub- regional countries, is migrating from analogue to digital broadcasting and it is an addition to numerous accomplishments in the fruitful and exemplary cooperation between Benin and China," Arifari Bako concluded. SM/IINA