African Development Bank (AfDB) to invest $30 million in Togo’s agribusiness
The African Development Bank Group has signed loan and grant agreements with the Government of Togo for a total of some 16.63 billion FCFA, as part of its Food Processing Project (PTA-Togo)
It is a memorandum of understanding of donation from the African Development Fund for an amount of 3.67 billion FCFA; a loan agreement of 6.37 billion FCFA from the same African Development Fund ; and a loan agreement of 6.59 billion FCFA under the African Development Bank Group Transitional Support Facility .
With a total cost of 35.19 billion CFA francs, of which 22% is provided by grants, the project is 47% fined by the African Development Bank, 28% by the BOAD, 17% by the Togolese government and 8% by the Seamaul Foundation. The implementation will take place over a period of five years.
The Togolese Minister of Economy and Finance, Sani Yaya, and the Bank’s Country Manager in Togo, Khadidia Diabi, have co-signed this agreement, in the presence of the Togolese Minister of Agriculture, Livestock and Livestock. of Fishing, Ouro-Koura Agadazi.
PTA-Togo is a pilot project implemented as part of Togo’s 2017-2030 Agricultural Development Strategic Plan and the Africa Bank’s Feed Africa initiative . It is the first project of its kind at the Bank that fits perfectly with the new concept of Agro-Food Processing Zones (ZTA).
The Agency for the Promotion and Development of Agropoles of Togo (APRODAT) is in charge of implementation, in an approach targeting agricultural value chains through a partnership between the State (facilitator and regulator), the private sector ( promoter) and professional agricultural organizations.
The project aims to create favorable conditions for private investment, agricultural processing and the supply of agricultural inputs and services in the Kara region in the north of the country.
The project is expected to directly benefit approximately 303,000 people, 51% of whom are women. But it is the entire population of the Kara region and the whole country that will benefit. Among other expected benefits are increased productivity and agricultural production of import substitution (rice, corn, soybean, broiler) and export (cashew nut and sesame).
The project will help increase the share of locally processed agricultural products (to 40% compared to 19% today) thanks to private investments in agro-parks: 90 000 tonnes of paddy rice per year, 15 000 tonnes of maize per year, 10 000 tonnes of soybeans per year, 20 000 tonnes of feed per year, 10 000 tonnes of cashew nuts per year and 10 000 tonnes of sesame per year, annual production of 3 million chicks and slaughter of 2 million broilers a year.
It will also contribute to enhancing the food and nutrition security of the population and creating wealth and jobs for young people and women.
At the signing of the agreement, Ms. Diabi welcomed not only the constant commitment of the Togolese authorities in the design of the project, but also the important efforts already made by the government in seeking inclusive growth in the region. benefit of the entire Togolese population.
She also welcomed the excellent relations that the Bank has maintained with Togo for almost four decades. “The quality of this relationship has enabled the rapid rebuilding of its project portfolio. The Bank will continue to support Togo in the implementation of the National Development Plan and the maintenance and intensification of the partnership, “she said.
Ms. Diabi also took the opportunity to express her sincere thanks to BOAD and the Seamaul Foundation for the quality of their relations and their engagement with the African Development Bank.
Welcoming the signed agreement and the unflagging support of the African Development Bank in Togo, Minister Yaya assured that the government is determined to continue the implementation of the reforms undertaken for the benefit of the Togolese population.
With this signing of loan and grant agreements, the total volume of Bank Group commitments in Togo now stands at about CFAF 190 billion, with 17 projects underway.
