Togo and World Bank Approve 2025 Work Plan for CoSo Project

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Saturday, 16 November 2024 07:31

Togo and World Bank Approve 2025 Work Plan for CoSo Project

(Togo First) - Earlier this week, Togo's government and the World Bank approved the 2025 work plan and budget for the country's social cohesion project in the northern regions of the Gulf of Guinea (CoSo). Details of the plan have not yet been disclosed but it aims to enhance regional collaboration to make border communities more resilient to climate and socioeconomic shocksimprove the socio-economic and climatic resilience of border communities. This decision follows satisfactory results from the project's implementation over the past two years, as reported by the steering committee during a meeting with Prime Minister Victoire Tomégah-Dogbé.

"After more than two years of implementation, we have all noted significant progress in the project's priority sectors. The sectors of education, energy, water, agriculture, grassroots development, and youth have been strongly impacted, mainly in the Savanes region, which accounts for 90% of the beneficiary cantons," said Prime Minister Tomégah-Dogbé.

According to Fily Sissoko, World Bank Resident Representative, "Togo has achieved the best results to date." This success is largely due to the opening of the Community and Refugee Support Window, which has helped mobilize $23 million in funding for vulnerable populations.

The CoSo project aims to enhance regional collaboration and improve the socio-economic and climatic resilience of border communities in the northern Gulf of Guinea countries. The initiative has received an investment of CFA33 billion from the World Bank, along with nearly CFA14 billion in additional funding.

Esaïe Edoh

REFORMS OVERVIEW

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ENFORCING CONTRACTS (more info)

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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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