Exim Bank of India to inject $40M into electrification projects in Togo

Energy
Friday, 25 June 2021 13:37
Exim Bank of India to inject $40M into electrification projects in Togo

(Togo First) - Togo and Exim Bank of India signed on Wednesday, June 23, a financing agreement under which the former will provide the latter $40 million (about CFA22 billion) to supply power (PV solar) to 350 communities. The facility is the third credit line the Asian lender is giving the West African country, to boost electrification. 

The money will serve to set up 2,000 solar irrigation systems and provide electricity to 500 schools. Moreover, 500 solar-powered water pumps and 12,000 solar light poles will be installed. 

The convention was signed just a day after Blitta’s new solar plant was inaugurated. It (the agreement) “directly aligns with Togo’s electrification strategy, and also with the national development plan and the objectives of the 2025 government roadmap,” said Sani Yaya, minister of economy and finance. 

For the government, the India-backed project will “help improve the living standards of rural populations who live in areas that are not covered by the traditional grid.”

Esaïe Edoh

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