Africa Financial Sector Responses to COVID-19 - Benin

Jul 28, 2020

As a Partnership committed to the African financial sector (AFS) development and resilience, Making Finance Work for Africa (MFW4A) has implemented a number of recent initiatives to strengthen the resilience of the African financial sector.

In addition to its webinars series and discussions aimed at identifying the sector's difficulties and solutions, a portal dedicated to domestic and international responses to the impact of COVID-19 on the regional financial sector has been set up.  The exercise consists in monitoring, collecting and classifying by country or region the measures taken by governments, central banks and DFIs in in support of the AFS vis-à-vis the financial impact of the pandemic. 

This page presents measures and initiatives by the Beninese government, national central bank and Development Finance Institutions (DFIs) in support of a resilient domestic financial sector facing the effects of the COVID-19 pandemic.

Disclaimer: This page contains information and links from third parties. These links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by MFW4A.

Instrument

Institution

Financing volume

Description

 Treasury Bills

Government

USD 225 million

 (May 06, 2020) Issuance of treasury bills (Bons Social Covid-19) on the financial market of the West african monetary union (WAMU) for an amount of 133 billion CFA (USD 225 million).

Measures to support financial inclusion

Government

 N/A

(June 05, 2020) Creation of an observatory on the quality of financial services. The mission of this observatory will be to enhance the attractiveness of the sector and increase the use of formal financial services by small and medium-sized enterprises (SMEs) and individuals.

Financial support measures for the private sector

Government

 

USD 128 million

(June 10, 2020) Financial support programme for the productive sector, mainly Micro, small and medium enterprises (MSMEs) and artisans.