Togo Joins Asian Infrastructure Investment Bank, AIIB

Economic governance
Monday, 09 September 2024 14:12
Togo Joins Asian Infrastructure Investment Bank, AIIB

(Togo First) - Togo has officially joined the Asian Infrastructure Investment Bank (AIIB) on September 4, on the sidelines of the 9th China-Africa Economic Forum (FOCAC 2024) in China. President Faure Gnassingbé chaired the related signing ceremony, alongside AIIB CEO HU Kun.

Now that it is an AIIB member, Togo should have greater access to financing for major infrastructure projects across various sectors, including health, education, energy, digital technology, transport, and water.

The AIIB was established in October 2015 and is operational since 2016. Mainly, it finances sustainable infrastructure projects in Asia and beyond. The Bank supports economic development and helps improve regional connectivity while ensuring gender equity and environmental protection.

The AIIB currently has 119 member countries and is active in sectors such as transport, energy, water, sanitation, and digital connectivity, with a funding capacity of $54 billion for these projects.

Esaïe Edoh

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