Togo: Sandra Johnson asks for World Bank's IDA20 financing to be increased

Economy

Friday, 25 November 2022 02:39

Togo: Sandra Johnson asks for World Bank's IDA20 financing to be increased

(Togo First) - Togo wants its share of the IDA20 package raised to better achieve the structural transformation of its economy. Last Monday, November 20, Sandra Ablamba Johnson, Minister, Secretary General of the Presidency of the Republic, and Governor of the World Bank in Togo, asked for the increase. The Togolese official spoke during the launch of consultations in the framework of the elaboration of the new Country Partnership Framework 2023-2027 with the World Bank.

For the Togolese economy to be structurally transformed, “concrete actions with strong impacts on the population must be posed.” That is Sandra Johnson’s opinion.

Thus, when the two sides met on Monday, they defined the priorities of this new cooperation framework in line with Togo’s 2025 government roadmap, taking into account the current global, health, security, and economic crises.

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For her part, Coralie Gevers, World Bank Director of Operations for Benin, Côte d'Ivoire, Guinea and Togo, reassured that the next country partnership framework would be aligned with the priorities agreed with the Togolese authorities. "The mid-term review of the IDA20 process could enable Togo to get more resources to deal with current crises," she said.

The IDA20 is the 20th replenishment of the resources of the International Development Association (IDA), to support the recovery efforts of countries affected by the Covid-19 pandemic and their transition to a green, resilient and inclusive development.

Esaïe Edoh

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.