State announces a CFA1 billion project to secure more funds to achieve SDGs

Public Management

samedi, 12 juin 2021 13:57

State announces a CFA1 billion project to secure more funds to achieve SDGs

In line with its ambition to achieve the sustainable development goals (SDGs) by 2030, Togo has elaborated a project to “boost development financing to achieve SDGs in Togo.” This instrument should help the country raise more funds to achieve this objective.

The UNDP and UNICEF injected $2.1 million (about a billion CFA) in the project which was recently launched. Within a year, it should help create conditions necessary for boosting resources needed to finance SDGs. This is in the framework of the 2020-2025 roadmap themed : “A peaceful Togo, a modern nation, with an inclusive and sustainable economic growth.”

This strategy focuses on implementing coordinated actions to mobilize funds for a sustainable development, exploring opportunities for financing, and fostering a multiparty dialogue on financing national development priorities that fully engage the private sector.

Togo will also prioritize, in this regard, a chain of planning, programming, budgeting, monitoring and evaluation (PPBSE).

In the sectors of agriculture (SDG 1 and 8), health and nutrition (SDG 3 and 1), and education (SDG 4), specific strategies will be drawn to boost financing, to rapidly achieve the 2030 agenda and better contribute to the realization of the 2020-2025 roadmap.

These initiatives will enable Togo to define a clear strategy for securing sustainable financing, supported by an institutional mechanism and the mobilization of both private and public funds to finance SDGs.

Let’s recall that last year, to accelerate the realization of SDGs in Togo, the UNDP partnered with Togo Invest to finance projects that fall under the National Development Plan (PND) and which are in line with SDGs.

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)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

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 .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

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.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.