Togo: A fund has been launched to boost the resilience of local businesses

Economic governance
Wednesday, 18 November 2020 17:09
Togo: A fund has been launched to boost the resilience of local businesses

(Togo First) - Fifty (50) micro, small, and medium enterprises (MSMEs) active in Togo will receive $350,000 to face the severe impacts of the Covid-19. 

The funds, partly a subsidy and partly a loan with flexible reimbursement terms, will be spent on the pilot stage of the Emergency Aid Fund for Micro, Small, and Medium Enterprises in Togo. The latter is a project launched last week by the UNDP’s branch in Togo, in partnership with the UN Capital Development Fund (UNCDF). It is aimed at mitigating the negative impacts of Covid-19 on MSMEs.

The pilot phase will be implemented for over six years. “We hope to have very conclusive results within the next six months. This will allow us to move into a much broader phase and mobilize more resources to enable Togolese companies to play their part in the development of the national economy, said Mactar Fall, deputy country representative of the UNDP, in the presence of representatives of the project’s partners in the country.

Séna Akoda

 
Sondage
Should we encourage young togolese toward agriculture?
  • 57 Votes
    Yes
    55.88%
  • 25 Votes
    No
    24.51%
  • 20 Votes
    Don't have opinion
    19.61%
← Back
Total 102 Votes

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.