Togo inks US$194 million agreements with IDB

The Togolese government on Wednesday, signed several funding agreements worth $194 million with the Islamic Development Bank (IDB), in Jeddah, during the visit to Saudi Arabia by Togolese leader Faure Gnassingbe.

The $194 million agreements will contribute to finance road construction projects, basic education projects and power grid projects in the northern region of the west-African nation.

Under the first $131 million agreement, IDB will co-finance the construction of Adoua-Kara road which links five regions in Togo. Its completion will enable landlocked Burkina Faso to have direct access to Lomé port.

Speaking after the signing ceremony, IDB president Ahmed Mohamed Ali explained that “the project will enable the Togolese government to improve the state of this strategic road, increase security and road safety, and also promote integration between Togo and its landlocked neighbouring countries.”

The second funding agreement will go towards improving and expanding access to basic education as well as supporting concerned institutions.

The funds will be used to create learning opportunities for 16,800 students and training opportunities for 1,500 teachers both at primary and secondary level.

The third agreement of 46 million dollars will contribute to financing the electrification of 43 villages in northern Togo.

About Khalid Al Mouahidi 3696 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network