BOAD contributes to the funding of the proposed creation and operation of an industrial and logistic park by Plateform Industrial Adétikopé (PIA) SAS in Togo
Lomé, 21 October 2021. Messrs. Serge Ekue, President of the West African Development Bank (BOAD), and Jesse Ian Damsky, President of Plateform Industrial Adétikopé (PIA) SAS, have signed a loan agreement involving a total amount of XOF20 billion, for the proposed creation and operation of an integrated industrial platform of 132 ha at Adétikopè, in the Republic of Togo.
This project included in the new governmental roadmap for 2021-2025, which outlines the strategic plan “Togo 2025” designed to “making Togo a peaceful country, a modern nation with inclusive and sustainable economic growth”, is the result of the Framework Agreement signed between PIA SAS, the Togolese Government and ARISE SPECIAL ECONOMIC ZONE (ARISE SEZ); it aims at the creation of an integrated industrial platform with the purpose of attracting investors so as to develop industrial and multi-sectoral activities, namely the processing of local agricultural and mining products. It is also consistent with BOAD’s 2021-2025 strategic plan referred to as DJOLIBA, namely its areas 1 and 2, respectively aiming at (i) strengthening regional integration and (ii) creating value and productive jobs in support to the States and the private sector.
The objective of the project is to contribute to improved added-value of national agricultural and mining production by setting up conditions (availability of industrial land, electricity, water and means of communication, facilitation of administrative formalities, customs and tax benefits, etc.) for the industrial transformation as well as increased logistic capacity of the country. During its implementation and operation, it will contribute to enhanced cargo handling capability of the Lomé Port Authority, and job and wealth creation.
This operation will contribute to the structural transformation of Togo’s economy for a strong, sustainable, resilient and inclusive growth and will ensure job creation and improved social welfare. It brings to XOF266.256 billion BOAD’s total commitments to the private sector in Togo, and the cumulative amount of loans extended in this country to XOF774.703 billion, all sectors combined.
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