Private Sector Support Project Benin
The Private Sector Support Project was launched to foster sustainable development, progressive integration in regional and global economy and poverty fighting. The specific aim related to a more favourable environment for the private sector through (1) stronger professional associations, (2) continuous dialogue between the private sector and the government, and (3) improving business support services. The total budget amounted to €5 million which financed 8 long term experts within specific associations and over 40 short term experts.
The programme contributed to a creation of a new consultation platform among key stakeholders which resulted in 29 tax proposals (included in the Finance Act), a reduction of the corporate tax rate to 25% (from 35%), reduction of the income tax and an increase of 150% in the number of start-ups over a year. The programme also enhanced the capacity of quality control through the rehabilitation of the equipment of SPS laboratories and support to the direction of fisheries in meeting again the EU standards. A new private sector support programme was signed in March 2012, with a total amount of €16 million.