Last updateDim, 01 Fév 2015 3pm

Bank: WADB to finance agricultural project in Togo with 8 billion CFAF

Agricultural project in Togo - The West African Development bank (WADB) will grant Togo 8.6 billion CFAF to finance part of the agricultural projects in the west African nation, according to an agreement reached here Friday.

The project, which comes within the framework of the national agricultural development policy for 2013-2022 and validated in November 2012, will target women, young men and other persons residing villages.

According to the agreement, the project should facilitate access to inputs for 50,000 vulnerable producers, train 3,000 farmers, renovate 8,000 hectares, build 550 warehouses in which 10 to 15 tonnes of products will be stored.

Officials will also build 1,300 shelters for engines and 3,250 market stores, set up 100 machines to hull rice, 700 maize gins, 150 rice threshing machines and 500 cassava grating machines.

In addition, officials are considering renovating 450 km of rural roads to open up the area.

In addition to the partial financing from WADB, the project will receive financial support from  the ECOWAS investment and development bank (EBID), the International Fund for Agricultural Development (IFAD), the Global Agriculture and Food Security Programme (GAFSP) and the Togolese government.

The latest money takes WADB's total funding in Togo to 348.7 billion CFA, including the 37.6 billion CFAF voted for rural development.

Pana 09/02/2014