Togo successfully secures its first international loan, without the World Bank’s guarantee

Finance
Tuesday, 24 December 2019 14:23
Togo successfully secures its first international loan, without the World Bank’s guarantee

(Togo First) - Togo recently closed its first international loan, with Lazard Frères as its advisor for the operation. 

The private loan, fully insured by the Africa Trade Insurance Agency (ATI), is to be paid over 10 years with the annual interest rate set at 5% (similar to an international loan that Benin secured recently, with a World Bank’s guarantee, however).

Let’s indicate that the World Bank which was supposed to guarantee the loan did no more. Indeed, the institution’s new president, David Malpass, after his appointment, decided to switch the guarantee for budgetary support, deeming the former more suited to the private sector.

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