Togo to get over $600m in new financing agreements with World Bank
TLDR
- World Bank and Government of Togo sign $298 million financing agreements to boost electricity access and public service delivery.
- Togo secures special waiver, receiving an additional $315 million from World Bank Group, totaling over $600 million in funding.
- Signing ceremony marks partnership for 2025-2029, focusing on enhancing social cohesion and resilience in Togo.
The World Bank and Togo signed three new financing agreements last Friday, totaling $298 million. These funds are intended to help Togo increase access to electricity, enhance public service delivery, and promote social cohesion.
In addition to these agreements, Togo secured an additional $315 million from the Bank's Prevention and Resilience Window, thanks to a special waiver. This brings the total funding for Togo to over $600 million.
The signing ceremony took place alongside the presentation of the Bank's new Country Partnership Framework (CPF) with Togo for 2025-2029.
Key Takeaways
The three deals signed by the World Bank and the Government of Togo include the Inclusive Development through Access to Electricity project (IDEA), the Togo Public Sector Strengthening for Service Delivery Operation (PforR), and the Gulf of Guinea Northern Regions Social Cohesion Project (COSO). The funding allocations for these projects are $200 million, $75 million, and $23 million, respectively. The funds allocated to IDEA will be used to construct 161kV transmission lines, providing electricity to over 1.5 million people, primarily in rural areas. The second project, the PforR, will focus on improving the management of human resources and public finances. The $23 million disbursed for the COSO project will support refugees and their host communities, fostering social cohesion in the Gulf of Guinea's northern regions.
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