IFC plans to lend ARISE IIP €250 mln to develop four industrial platforms in Togo and Benin

Investments

Monday, 30 October 2023 11:48

IFC plans to lend ARISE IIP €250 mln to develop four industrial platforms in Togo and Benin

(Togo First) - ARISE IIP, the firm that operates Togo’s Industrial Platform of Adétikopé, may get €250 million to support the development of four industrial platforms in Africa, including Togo and Benin.

The International Finance Corporation is examining the financing project, with its board set to deliberate next December 22.

According to IFC information, the funds will be allocated to the development of special economic zones (SEZs) and industrial parks, notably the Industrial Platform of Adétikopé (PIA) in Togo, the Glo Djigbé industrial zone (GDIZ) in Benin, the Industrial Platform of Congo (PIC) in the Republic of Congo, and Special Economic Zone of Bugesera (BSEZ) in Rwanda. The total investment is €870 million, including €30 million for Togo.

PIA Phase II

In Togo, phase II of the PIA will be developed in Zio, a municipality located around 27 km from Lomé (and about 9.7 km east of where Phase I was deployed). The second phase will be deployed over 328 hectares; under this phase, a 260m-wide industrial zone will be built)

The IFC’s support–capped at €250 million–includes a loan of €63 million, €107 million in parallel loans, and a loan of €80 million from the IDA. It is worth recalling that last June, ARISE IIP secured $400 million from Afreximbank, a credit facility.

Ayi Renaud Dossavi

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