Togo gets €33 million grant from the European Union, as budget support

Economic governance
Wednesday, 04 December 2019 14:42
Togo gets €33 million grant from the European Union, as budget support

(Togo First) - In 2019-2020, the European Union (EU) will grant €33 million (about XOF21.6 billion) to Togo's public treasury.  

From this amount, €17 million should be disbursed for 2019. Overall, the grant will support the government in implementing reforms relative to the management of public finances, decentralization strategy, business climate's improvement, and the national statistics system. 

It (the facility) aligns with phase 3 of the Contract for Consolidation of the Togolese State. An agreement was signed yesterday, Dec 3, in its framework. Demba Tignokpa, minister of planning, and Bruno Hanses, EU's Chargé d'affaires in Togo, both represented the two parties at the signing. 

This grant, the minister commented, "adds to the State's resources enabling the government to meet the people's needs, especially in social sectors." Besides, "it should foster an inclusive and stable socioeconomic growth in Togo, in line with all three axes of the 2018-2022 National Development Plan," he added. 

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