The Mineral Industry Of Other Areas Of Africa - Bénin

The mineral industry of Benin contributed less than 1% of the 1977 gross domestic product (GDP), which was estimated at $500 million.' Other than limestone and salt, no exploitable mineral deposits have yet been discovered in Benin, which has been rated by the United Nations as one of the world's least developed nations. In 1977, the economy was further weakened by petroleum price increases and severe drought. The country continued to depend on foreign assistance, which averaged $20 million per year, to finance development projects. The country's first 3-year plan, which was put into operation in October 1977 after many delays, allocated more than $1 billion to projects in infrastructure, agriculture, and light industry. The most important infrastructure project was the expansion and modernization of the port of Cotonou, valued as an entrepôt port for the transit of goods to the neighboring countries of Niger and Nigeria. Plans called for an increase in handling capacity to 1 million tons of cargo annually, the improvement of port and cargo handling operations, and the upgrading of the efficiency of the Port Autonome de Cotonou (PAC) management system. The $46 million project was to be financed by a consortium led by the International Bank for Reconstruction and Development (IBRD) and including Canada, France, Nigeria, and Abu Dhabi. Construction was scheduled to begin in 1978 and be completed in 1980.