The African Development Bank (AfDB) will support Togo to the tune of 782 million CFA francs, with a view to implementing the Youth Agricultural Investment Support Project (PAIAJ).

Lasting two years, this initiative "ultimately aims to strengthen the capacities of disadvantaged young people, to facilitate their inclusion in the economic and social fabric of our country", underlines the Togolese Minister of Economy and Finance, Sani Yaya.

Concretely, the PAIAJ wants to facilitate the integration of approximately 620 disadvantaged young women and men (one-third of whom are women in the links of the agricultural value chains); and access to financing for 530 businesses of disadvantaged young people, supported by financial support for their businesses (30% of which are women).

This financial support was the subject, yesterday Thursday, August 06, 2020, of a signing of agreements, between the Togolese Minister, and the Representative of the AfDB in Togo. The signature also covered the budgetary contribution of the pan-African multilateral institution, to the tune of approximately 16.5 billion CFA francs, within the framework of the Emergency Support Program for the Response to COVID-19 (PARCOVID -19), announced by the Bank recently.

In addition to these two projects, the Togolese head of finance recalls that the support of the AfDB extends to several other structuring sectors, in particular through the financing of the flagship projects of the PND: as in the sectors of governance, public finance, social, the agricultural sector, or energy.

To date, the Bank's portfolio in Togo exceeds 300 billion CFA francs.

Ayi Renaud Dossavi