The African Development Bank (AfDB) Group has granted two projects to the Togolese government to accelerate the five-year plan. The total amount involved is approximately 14.3 million euros (9.4 billion CFA francs).
The largest portion of the funding (€13 million) will be used to implement the first governance and private sector development support project. This program is financed by a loan of 9.4 million euros and a grant of about 3 million euros from the African Development Fund (ADF), the concessional window of the African Development Bank Group.
With this project, the AfDB is supporting the Togolese government’s efforts to improve governance. This is done by strengthening internal resource mobilization and public debt management on the one hand. And secondly, strengthening the integrity of the expenditure chain and the fight against corruption. It will also support the development of the capacities of public structures supporting the private sector, as well as the strengthening of the skills of private sector organizations and actors. It will be implemented over a period of four years from the date of signature.
The second agreement concerns the support program for investment promotion and the development of public-private partnerships. 1.1 million grant from the African Development Bank and the African Development Fund under the Transition Support Facility. This project aims to strengthen the institutional framework for the development and monitoring of Public-Private Partnerships (PPP). And this through support to the Ministry of Investment Promotion.
In particular, this program could promote the establishment of a framework for regular public-private exchanges with a view to convergence of ideas. All this in order to make the necessary reforms and remove the constraints on the business environment in Togo.
The roadmap ”Togo 2025” is a five-year investment project (2020-2025) initiated by the Togolese government. Its objective is to promote the contribution of the diaspora to the development of Togo. This project revolves around 3 strategic axes broken down into 10 ambitions to meet the main challenges of the country. The first axis takes into account the strengthening of inclusion, social harmony and peace building. The second is to create jobs for young people by building on the strengths of the economy. Finally, the last point is the strengthening of the different structures.
It should be recalled that the financing agreements were signed by the African Development Bank Group’s country representative in Togo, Wilfrid Abiola, and the Minister of Economy and Finance, Sani Yaya, on February 17.
