Togo: BOAD to back banks partnering MIFA with credit lines

Economic governance
Tuesday, 22 January 2019 17:23
Togo: BOAD to back banks partnering MIFA with credit lines

(Togo First) - The West African Development Bank (BOAD) has committed to support the Agricultural Incentive Financing Mechanism (MIFA). The news was disclosed by MIFA’s deputy coordinator for the pilot phase, Aristide Agbossoumonde.

On January 21, 2019, MIFA’s coordination team was at the BOAD’s headquarters to proceed to the project’s presentation. The mechanism aims to boost farmers’ access to bank loans.

The deal with BOAD will first help secure funds more easily from banks involved in the project. Secondly, it is a strategic partnership which will support the development of the mechanism.

According to sources close to the coordination team, once the partnership agreements are effectively signed, Orabank and other financial institutions partnering the MIFA should get credit lines dedicated to agriculture financing.  

Séna Akoda   

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