COTONOU -- The Chinese government has granted Benin 40 billion CFA francs ($69.14 million) in preferential loan to fund a telecommunication infrastructures project in the West African country, following an agreement here on Monday.

The master funding agreement for a broadband project was signed by China Ambassador to Benin Diao Mingsheng and Benin Minister of Foreign Affairs and African Integration Nassirou Arifari Bako.

"We have come to realize that the government of Benin attaches great importance to the construction of telecommunication infrastructure and we wish that this project would allow those not connected to the Internet access to the broadband," said the ambassador.

Diao said the Internet fosters economic and social development and the signing of the funding agreement would strengthen the cooperation between the two countries.

Bako, on his part, said China has once more demonstrated through this agreement its will to resolutely assist Benin's development efforts.