BIDC approves financing of a new rural electrification project in Togo

Economic governance
Friday, 21 December 2018 16:22
BIDC approves financing of a new rural electrification project in Togo

(Togo First) - On the sideline of its 60th board meeting, the ECOWAS investment and development bank (BIDC) has approved a $13 million financing for a Togolese power project.

While no other detail was disclosed about the project, based on information released after the bank’s 59th board meeting last October 25 it may be a rural development project.

For Togo, this project will be another step towards achieving its 2030 “universal power access” goal.

Besides approving projects during its latest board meeting, the BIDC reviewed its activity in 2018. In detail, this year, the lender approved 13 projects, 12 of which were successfully executed. The latter were implemented in the health, water and telecommunication sectors.

Next year, the BIDC intends to diversify its shareholding and raise more funds to expand its footprint across the region.

Séna Akoda / Rénaud Dossavi

 
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