Over half of the AfDB’s investments in ECOWAS are dedicated to energy and transport projects

Investments

Friday, 04 December 2020 12:25

Over half of the AfDB’s investments in ECOWAS are dedicated to energy and transport projects

(Togo First) - More than 50% of the investments made by the African Development Bank (AfDB) in West Africa were dedicated to transport and energy.

About $1.6 billion was invested in the transport sector by the institution, across ECOWAS, while over $9.6 million was spent on projects aimed at boosting access to energy in the region.

The figures were disclosed last week during a virtual meeting during which the Abidjan-based Bank launched its West Africa Regional Integration Strategy.

In August 2017, the AfDB approved a grant of $975,000 to start the CIZO project, which is a rural electrification project where populations are supplied Pay-As-You-Go solar kits.

The lender also provided CFA56 billion to support the rehabilitation of the Atakpamé-Blitta (on the Lomé-Cinkassé corridor).

In the next five years, the AfDB plans to inject $4.94 billion in ECOWAS. The monies will be spent on 35 projects in areas ranging from transport and infrastructure to energy access and climate resilience; all to support West African integration.

Séna Akoda

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

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)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

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 .

TRADING ACROSS BORDERS (more info)

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

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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GETTING ELECTRICITY (more info)

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REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

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PAYING TAXES AND DUTIES (more info)

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