Togo gets CFA20 billion from the BOAD for the Adetikope industrial platform, PIA

Logistics
Thursday, 27 May 2021 09:56
Togo gets CFA20 billion from the BOAD for the Adetikope industrial platform, PIA

(Togo First) - Banque Ouest Africaine de Développement (BOAD) will provide the integrated industrial platform of Adetikope (PIA) with a CFA20 billion financing. 

The decision was taken during the 13rd board meeting of the Lomé-based bank. On that occasion, CFA95 billion worth of new commitments were approved. 

The PIA is a project led by a joint venture with a capital of CFA17.6 billion. The latter is between the Togolese State and Mauritius-based firm Arise IPP. The project aligns with the government’s ambition to make the country a logistics hub to industrialize the local processing of many Togolese products, particularly agricultural products such as cotton, cashew nuts, soybeans, rice and sesame, and thus facilitate their export.

The BOAD financing should be quite helpful for Arise IIP which disbursed the €200 million needed to initially create the PIA. The latter should become operational on June 6, 2021, many months behind schedule. 

Fiacre E. Kakpo

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