Benin: Romuald Wadagni signs with Bpifrance to back Fonroche Eclairage ($22.8m)

Fonroche Eclairage has reached a tailor-made solution with the public bank Bpifrance to ensure payment of its contract by the Benin authorities. In January 2019, the group based in Roquefort, near Agen (south-west France), won a contract to supply 15,000 solar street lamps. On 24 February, Romuald Wadagni, Minister of the Economy and Finance, signed a framework financing agreement in Benin with representatives of Bpifrance which provides for a first line of credit. This line of credit, worth €20.6m (($22.8m), will enable the Beninese authorities to finance the contract awarded last year to Fonroche Eclairage following an international call for tenders in which around thirty companies took part.