AfDB provides Togo €24 million to fight covid-19

Investments
Tuesday, 04 August 2020 17:38
AfDB provides Togo €24 million to fight covid-19

(Togo First) - To further tackle Covid-19, Togo will get from the African Development Bank (AfDB) €24.64 million. The provision of the facility, budget support, was recently approved by AfDB’s board after it was announced last June. 

The facility breaks down into a loan (€7.34 million), a grant (€6.17 million), and another loan (€11.12 million) provided under AfDB’s Transition Support Facility (first pillar). The latter was established to address fragility and building resilience in Africa.

The funds will help Togo to boost economic and sanitary resilience, and most importantly help it bridge the gap that resulted from the restrictive and support measures initiated by the government after the disease broke out in the country. 

Besides Togo, Benin and Guinea also received a total of €60 million from the AfDB in this same framework.

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