German-Togo cooperation: Germany to support macroeconomic reforms in Togo

Economic governance
Monday, 22 March 2021 12:38
German-Togo cooperation: Germany to support macroeconomic reforms in Togo

(Togo First) - On Wednesday, March 17, Togo's foreign affairs minister, Robert Dussey, met with the German minister for economic cooperation, Gerd Müller. This was in Berlin.  

During the meeting, the two men talked about ways to strengthen economic ties between the two countries. In this framework, they signed a letter of intent to accelerate reforms falling under the G20's Compact with Africa (CwA) program.   

Launched in 2017, the CwA aims to boost private investments in Africa, especially in infrastructure. In detail, the program's goal is to attract more private investments by significantly improving financial, commercial, and macroeconomic environments, through specific reforms. In Togo, the CwA allowed the country to get around €25 million for the Cizo rural electrification project. 

It should be emphasized that in recent years, the Togo-Germany cooperation focused mainly on decentralization and local governance issues. Two flagship projects are underway in these areas: there is the Decentralization Support Project on Togo, which is led by the German development bank (KfW), and the Decentralization and Local Governance Program (ProDeGol), steered by Giz. 

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