BOAD signed with the Togolese Government two loan agreements involving a total of XOF27.6 billion
Lomé, 23 June 2017. Messrs. Christian Adovelande, President of West African Development Bank (BOAD), and Sani Yaya, Minister of Economy and Finance of Togo, signed two loan agreements relating to the farmland development project in the plain of Oti (areas 4 and 5) on the one hand, and the Benin-Togo multinational project for the Lomé-Cotonou road rehabilitation (phase 2) and coastal protection in Togo, on the other hand. Those two projects are part of the initiatives taken by the Government of Togo to improve food security, reduce poverty in rural areas, strengthen regional integration and contribute to coastal protection.
The farmland development project in the plain of Oti will consist of developing 1,132 ha of irrigated lands with full water control, creating 2,000 ha of areas for planned agricultural activities, developing family livestock production systems, strengthening village water and health facilities. In total, over 50,000 dwellers in the areas covered will avail of the implementation of this project in terms of improved average yield per hectare, diversified incomes and job creation. BOAD will contribute to the project financing to the tune of XOF11 billion, representing 52% of its total cost.
As regards the phase 2 of the Benin-Togo multinational project for the Lomé-Cotonou road rehabilitation and coastal protection, it will cover the Avépozo-Aného road section over a stretch of 30 km, forming part of the community road No.1 under the WAEMU programme of action for road facilities and transports. One of the priority objectives of this programme is to ensure a permanent link between the major cities of WAEMU member countries by means of all-weather roads.
As a reminder, BOAD contributed to the phase 1 of the project financing which covered the construction and asphalting of the Ghana (Aflao) border-Rond Point Port de Lomé-Avépozo and Aného-Benin border road sections in 2×2 lane road. The completion of this project will, inter alia, further link up cross-border markets and strengthen regional integration. BOAD has contributed XOF16.6 billion to this project.
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