Togo gets CFA1 billion from EBID for agricultural project

Public finance
Tuesday, 18 May 2021 14:49
Togo gets CFA1 billion from EBID for agricultural project

(Togo First) - As part of its financing strategy to revive economies in the WAEMU post-covid, the ECOWAS Bank for Investment and Development (EBID) has raised about CFA50 billion on the WAEMU’s debt market. 

The sum, part of a total of CFA240 billion, is to finance various projects in 7 of the WAEMU States. So far, 19 eligible projects were preselected. One of them is Togo’s Agricultural Development Support Project (PADAT) which will receive a billion CFA. 

In detail, CFA22 billion will go to the private sector-led projects and 34 billion to State-led initiatives. 

Financing these projects will not only contribute to the revival of the economy but also create jobs, boost food security, fight poverty and support SMEs through financial institutions,” said EBID. 

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