World Bank to lend Togo $30M for its Infrastructure and Urban Development Program

Investments
Thursday, 23 August 2018 10:14
World Bank to lend Togo $30M for its Infrastructure and Urban Development Program

(Togo First) - The World Bank will lend Togo $30 million to advance its Urban Development and Infrastructures Program (PIDU). Related agreement was signed on Wednesday in Lomé.

Monies committed by the Bretton Woods institution will be used to improve access to basic urban infrastructures in Lomé, Kpalimé, Tsévié, Atakpamé, Sokodé, Kara and Dapaong.

PIDU is a project that will also boost these cities’ institutional capacity, in terms of planning and urban management, said Sani Yaya, Togo’s minister of economy and finances. It is expected to be completed by the end of December 2023.

For her part, Hawa Cissé Wagué, World Bank’s resident representative in Togo, said the new loan agreement comes to support the country’s 2018-2022 National Development Plan. “The agreement falls under the implementation of World Bank’s Partnership Framework which strongly aligns with main axes of the National Development Plan adopted last month by the Togolese government, she declared.

With the new loan, World Bank’s investments in Togo now amount to $380 million.

Séna Akoda

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