“The endowment funds is a private non-profit legal entity that receives and manages, by capitalizing it, any property and rights of any kind that are provided to it free of charge and irrevocable and uses the income from capitalization to the realization of a work or a mission of general interest or redistributes them to assist a non-profit legal person in the performance of his works and missions of general interest.”
The WASF endowment funds is 24.2 million Euros, for it “Benin wicket”:
- the commitment of the Government of Benin up to 1.5 million Euros;
- the German Government through the financial cooperation has a contribution of 21.9 million Euros;
- the World Bank by the link of the FEM/GEF and IDA has a contidbution of 0.8 million Euros.
By 2020, the WASF should be able to raise at least 30 million Euros to cover the growing needs of the PAs.