BOAD Grants CFA20 Billion Loan to Boost Agricultural Mechanization in Togo

Agriculture

Friday, 10 October 2025 15:28

BOAD Grants CFA20 Billion Loan to Boost Agricultural Mechanization in Togo

(Togo First) - • The West African Development Bank (BOAD) approved a CFA20 billion ($32 million) loan to finance Phase 1 of Togo’s Agricultural Mechanization and Irrigation Support Program.
• The funds will equip Regional Centers for Agricultural Mechanization (CRMA) with modern tools to raise productivity and rural employment.
• The financing aligns with BOAD’s “Djoliba Strategic Plan”, aimed at strengthening productive infrastructure and supporting economic transformation in WAEMU countries.

The West African Development Bank (BOAD) has approved a CFA20 billion ($32 million) loan to support Togo’s efforts to accelerate agricultural mechanization and irrigation. The announcement followed the bank’s 148th ordinary board session held on October 9, 2025, in Lomé.

The new funding targets the first phase of the Agricultural Mechanization and Irrigation Support Program, a government-led initiative designed to modernize farming practices, strengthen food security, and raise farmers’ incomes.

The program will provide modern equipment to Regional Centers for Agricultural Mechanization (CRMA), which currently operate in Kara and Kpalimé. These centers, launched in 2023, serve as technical hubs for training, maintenance, and advisory services for smallholder farmers.

The BOAD financing will also allow the government to expand CRMA operations to other regions, with expected gains in agricultural productivity and rural employability.

According to the regional development bank, the initiative will help farmers better utilize mechanization technologies and ensure sustainable management of agricultural equipment.

BOAD said the operation fits within its Djoliba Strategic Plan, which prioritizes the financing of productive infrastructure and the economic transformation of member states within the West African Economic and Monetary Union (WAEMU).

At the end of its latest board meeting, the bank highlighted its strong financial performance, reporting a CFA22 billion ($35 million) net profit in the first half of 2025. BOAD also recalled its €1 billion bond issuance earlier this year, aimed at scaling up funding for regional development projects.

This article was initially published in French by R.E.D
Adapted in English by Ange Jason Quenum

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