Afreximbank to support Togo’s industrialization

Economic governance
Tuesday, 11 January 2022 16:01
Afreximbank to support Togo’s industrialization

(Togo First) - In addition to backing the second construction phase of the PIA, the African Export-Import Bank (Afreximbank) said last Thursday it would help Togo develop its industrialization projects. The commitment came from Benedict Okey Oramah, chairman of Afreximbank’s board of directors, during a meeting with the Togolese Head of State, Faure Gnassingbé.

"We are planning other projects, especially the development of integrated industrial parks...,” announced Benedict Okey Oramah.

The announcement follows Togo's adhesion to the Agreement establishing the Fund for Export Development in Africa (FEDA), last August. The FEDA is an Afreximbank platform that allows its members to foster the development of industrial infrastructure.

Moreover, Afreximbank added that it is ready to help Togo implement social projects. "We have also discussed with the President of the Republic of our bank’s contribution to the realization of the government's roadmap so that at least 75% of the Togolese population gets access to electricity and drinking water in the coming years. We have also agreed to collaborate in the health sector," Oramah said.

So far,  the executive added, Afreximbank’s ongoing projects in Togo are valued at 500 million euros.

Esaïe Edoh

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.