Togo secures a XOF20 billion loan from BOAD to rehabilitate and asphalt N°17 national road

Infrastructure

Friday, 20 September 2019 16:33

Togo secures a XOF20 billion loan from BOAD to rehabilitate and asphalt N°17 national road

(Togo First) - The West African Development Bank (BOAD) just lent Togo XOF20 billion to partially finance the rehabilitation and asphalting of the n°17 national road, connecting Katchamba to Satori (about 489km north of Lomé).

The loan agreement was signed on September 19, 2019, between Sani Yaya, Togo’s minister of finance, and Christian Adovelande, president of the BOAD.

Besides funding works for the 60km-long road, the loan will serve to “pay secondary works and enterprises in charge of monitoring the works,” said Yaya. Secondary works, he further indicates, include “school buildings, drilling and equipping boreholes, as well as construction of roofed market stalls.”

The project should ease access to socioeconomic infrastructures for covered communities, as well as opening up localities situated in the plains of the Kara, Koumongou and Oti River.

Adding up this recent financing, the BOAD’s financial support for Togo so far totals about XOF605 billion, according to the minister of Finance.

Most of these funds are invested in road projects, the power (mainly the Kekeli thermal power plant), and the agro-industrial (the agropoles project) sectors.

Ayi Renaud Dossavi

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