The Minister of Economy and Finance, Essowè Georges Barcola, and the country representative of the African Development Bank (BAD) in Togo, Wilfrid Abiola signed a loan agreement worth 16.4 billion FCFA in Lomé. This financial envelope, approved by the bank's Board of Directors, will be used to finance phase 2 of the Togo agro-food processing project

According to the Minister of Economy and Finance Mr. Essowè Georges BARCOLA: “the financing agreement in the amount of 16.4 billion CFA that we have just signed, reflects the excellence of the cooperative relationships between the ADB and the Togolese Republic”. This is a credit intended to support the Togo agro-food transformation project, one of the strategic axes of the Togo 2025 Government Roadmap. This axis places particular emphasis on the modernization of agriculture and its industrial transformation, in order to make it a real engine of inclusive growth and job creation for young people and women, by offering them entrepreneurial opportunities in the agricultural sector.

The ADB Group, by engaging in the financing of phase II, welcomes the accuracy of the choice made by supporting the first phase of the PTA, which was a success according to the group's country manager Wilfrid ABIOLA, which was a success according to the group's country manager Wilfrid ABIOLA. “We are meeting today to sign the financing agreement in the amount of 20 million Units of Account (UA), or around 16.4 billion CFA francs, approved on July 19, 2024, by the Bank's Board of Directors. This funding is intended to support Phase II of the Togo Agri-Food Transformation Project (PTA),” he said.

The PTA II is the result of the phasing of the Togo Agri-Food Processing Project (PTA-Togo), and aims to consolidate and reinforce the achievements of the first phase (PTA I).