Novissi: the French Development Agency injects CFA6 billion into the project

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Monday, 24 January 2022 17:15

Novissi: the French Development Agency injects CFA6 billion into the project

(Togo First) - The French Development Agency (AFD) and the Togolese government inked a second €10 million financing agreement (about CFA6.5 billion) for vulnerable populations at the end of last week. The agreement was signed by the Togolese Minister of Economy and Finance, Sani Yaya, the French Ambassador, Jocelyne Caballero and François Jacquier-Pélissier, Director of AFD Togo.

The new facility will allow the Togolese authorities to extend access to cash transfers to 45,000 new beneficiaries. These beneficiaries, precisely the most vulnerable, will receive 15,000 CFA francs per quarter for 18 months. Of the target population, 75% are from rural areas and the remaining 25% are from urban areas. They will be identified in the 100 poorest rural cantons of Togo and precarious urban areas.

The new financing adds up to another CFA2 billion allocated in 2020 to support the NOVISSI Universal Solidarity Income Program. In the medium term, it will help address the economic impacts of the health crisis on the most vulnerable.

"This new project perfectly aligns with the government's 2020-2025 Togo Roadmap, which focuses greatly on fostering social inclusion. The materialization of this financing for poor and vulnerable people is a happy event that we must welcome," said Sani Yaya.

According to the French Ambassador, through this project, France, "includes social policies in the wide range of its commitments to boost access to basic services in Togo."

To date, the AFD’s investments in Togolese projects total CFA136,57 billion, including last week’s financing.

Esaïe Edoh

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