Daily News  :: West Africa

Libya to invest in Benin

Published: 15-JAN-07

Cotonou - Libya plans to invest more than 120 billion CFA francs ($23bn) on tourism, oil and agriculture projects in Benin, the presidency said in a statement here Friday.

This followed Monday's visit to Libya by Benin President Yayi Boni, who met with Libyan leader Colonel Moammar Kadhafi.

The statement said that Kadhafi hailed the business climate in Benin, and promised that Libya would increase its investments in the West African country.

The planned Libyan investment would include construction of hotels on the land purchased by the Libyan Arab Investment Company in Africa, as well as an oil products outlet.

Tripoli is also to support the growing of rice in Benin's Oueme and Mono valleys, to create jobs for young people and boost the country's income.-panapress

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