IFAD Backs Togolese Agriculture with $2.4M Funding

Finance

Friday, 02 August 2024 17:12

IFAD Backs Togolese Agriculture with $2.4M Funding

(Togo First) - Togo recently secured $2.4 million from the International Fund for Agricultural Development (IFAD) to develop its agricultural sector. The deal was sealed last week in Lomé, by IFAD’s country director, Kabore Jean Pascal, and Ayéfoumi Olou-Adara, president of the Coordination togolaise des organisations paysannes et de producteurs agricoles (CTOP).

1 agricole

The funding will help implement the Projet soutien à la promotion du maraîchage agro écologique paysan au Togo (ProsMAT). Togo will use the money to finance its food security strategy and foster sustainable farming practices.

Through the ProsMAT, CTOP will provide technical support to market gardeners in 16 prefectures across six agricultural regions, focusing on agroecological production. The goal is to improve vegetable yields and quality while reducing pollution.

The project will also work on reducing post-harvest losses and helping market agroecological produce. Additionally, the funding will support processing units run by women's cooperatives and youth enterprises producing agroecological inputs.

The project should last 40 months and cover about 10,000 farmers, with 58% being women. The initiative is part of other IFAD efforts to support Togolese agriculture, including funding for a project aimed at achieving zero hunger in Nigeria and Togo.

Esaïe Edoh

REFORMS OVERVIEW

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At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

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CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

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PUBLIC PROCUREMENT (more info)

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