Arab Bank for Economic Development in Africa Seeks to Strengthen Investment Portfolio in Togo

Investments

Thursday, 06 July 2023 13:47

Arab Bank for Economic Development in Africa Seeks to Strengthen Investment Portfolio in Togo

(Togo First) - The Arab Bank for Economic Development in Africa (BADEA) would like to boost its investment portfolio in Togo. On July 4th, the Togolese President, Faure Gnassingbé, covered the topic with BADEA’s Director-General, Sidi Ould Tah.

The two men had the meeting in Lomé, on the sidelines of the first Infra for Africa Forum dedicated to mobilizing investments in infrastructure. Together, they reviewed the BADEA-Togo cooperation, with a view of increasing the Bank’s portfolio in the country.

"We reviewed the state of cooperation between the Arab Bank for Economic Development in Africa (BADEA) and the Republic of Togo. It is an exemplary cooperation that we wish to strengthen further in order to increase the volume of funding granted to the Togolese government," Sidi Ould Tah said.

He then congratulated Gnassingbé on the remarkable economic progress made by Togo and its position as a premier sub-regional logistical and financial hub.

"I congratulated His Excellency, the President of the Republic, for Togo's remarkable performance, its economic and social development, and the important role it plays as a regional hub, be it in aviation, industry, infrastructure, or logistics. Togo is also an important financial hub," he added.

In Togo, BADEA supports key projects in various sectors, including infrastructure, health, education, and energy.

Established in 1974, BADEA is a financial institution dedicated to the development of economic, financial, and technical cooperation between Arab and African countries. As a development partner, the Bank has been particularly active in Togo over the past decade. In October 2014, it pumped $10 million into a road rehabilitation project in Sokodé-Bassar, in collaboration with the Abu Dhabi Fund for Development, and in February 2015, it disbursed €14 million for helping boost rice farming in the Djagblé plain.

Ayi Renaud Dossavi

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)

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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.

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