Togo acquires new support from the World Bank

After the approval of an initial financing of $100 million (approximately FCFA 60 billion) intended to support inclusive growth, Togo will benefit from further support from the World Bank.

The board of directors of the financial institution has approved the disbursement of an amount of $450 million (nearly $270 billion) for the benefit of the country and three other neighbors in the Gulf of Guinea: Benin, Côte d’Ivoire and Ghana. This new envelope, which will also be granted via the International Development Association (IDA), will finance a project to strengthen social cohesion in the sub-region.

According to the government, the project, programmed over 5 years, will focus on strengthening local institutions and will specifically target vulnerable population groups living in border areas threatened by conflict and climate risks. The objective, explains the Bank, is to meet several challenges, including poverty, exclusion and weak governance.

In total, nearly 4,600 communities in the various countries will benefit from the project.

Source : icilome.com

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