International Finance Corporation (IFC) will open an office in Lomé

Finance
Wednesday, 10 July 2019 13:08
International Finance Corporation (IFC) will open an office in Lomé

(Togo First) - The International Finance Corporation (IFC) will open an office in Lomé, Togo. This was revealed by the institution’s Vice President for Africa and the Middle East, Sérgio Pimenta (photo), during a meeting with Togo’s President, yesterday.

With this office, the IFC will be closer to local business operators and could more rapidly increase its investments in the country. Also, the World Bank’s arm should build new partnerships and seal financing deals more easily. The latter will help Togo achieve its ambition to structurally transform the economy by 2022.

In effect, Lomé is currently seeking XOF4,622 billion to implement its 2018-2022 national development plan. The authorities plan to secure 65% of the funds from the private sector.

Séna Akoda

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