Benin and the International Fund for Agricultural Development (IFAD) signed a $37.1 million financing agreement in Cotonou on Monday, October 26, 2026, to help young people enter the rural workforce and establish agricultural businesses. The funding is earmarked for the eight-year Professional Integration and Agricultural Entrepreneurship Support Project (ProPEA).
IFAD's contribution is only one part of the planned funding package. The programme has an estimated total cost of $149.1 million, with additional financing and contributions expected from the Beninese government, development partners, private businesses and beneficiaries. The signed agreement confirms a financing commitment, not a tally of money already disbursed or jobs already created.
The programme aims to help rural businesses move beyond primary production through vocational training, start-up support, business advice and access to finance and insurance. It will focus on activities including crop production, aquaculture and poultry, with measures designed to help enterprises manage climate-related risks.
ProPEA is designed to reach around 50,000 rural households, representing more than 360,000 people, across Benin's agricultural development hubs. Young people are expected to account for 60% of participants. By 2033, the project aims to create employment opportunities for 21,000 young people. Those are programme targets rather than results already achieved.
The agreement is the first IFAD financing deal with Benin since the institution opened its country office in Cotonou in March 2025. IFAD says it has supported 15 projects and programmes in the country since 1978, with a combined cost of $729.6 million, including $296.6 million in financing provided by the fund.