Togo : CFA95 million provided to farmers in the framework of MIFA
Monday, 16 July 2018 16:20 
(Togo First) - MIFA (Mécanisme Incitatif de financement agricole), the scheme launched with great enthusiasm to encourage investments in the agricultural sector receives a great boost.
On July 13, 2018, the cooperative of rice and Cassava producers of Tagnamboul, Dankpen, a region known for its high agricultural potential, received the first check in the framework of the initiative inspired by the Nigerian success-story NIRSAL.
In Kara, in the North, for the Evala celebration, Faure Gnassingbé, the Togolese president took this opportunity to meet actors of the agricultural sector and gave them a check of CFA95 million (a financing from SOGEMEF-Société Générale de Micro et Méso Finance). This will help the producers improve their production and competitiveness.
Let’s remind that the MIFA was officially launched on June 25, 2018, by Faure Gnassingbé, to develop the agricultural sector (which provides jobs to about 70% of the active population with a contribution to GDP estimated at 40% and a participation to economic growth estimated at 1.7% in 2017). It is a risk-sharing scheme aimed at increasing the funds destined farmers. Thanks to it, 6,000 farmers should receive loans at preferential interest rates, by the end of this year.
This scheme which will involve banks and microfinance institutions in the development of the agricultural sector is also aimed at promoting mechanization, innovation, and the use of agricultural inputs. Above all, it wants to transform the sector into a real pillar for job and wealth creation.
