World Bank approves a loan of $16 million to Togo
26 May 2010
The World Bank approved a loan to Togo this week for Economic Relaunch and Governance, of 16.3 million Dollars.
The funds will provide budgetary support for the government in order in particular to strengthen governing capacity and establish transparency in key sectors of the economy, such as phosphate, cotton, and energy, as reported by the APO press agency.
In the last of these sectors, the funds are going to allow for the implementation of a plan for better management of the funds of the national electricity company, and so allow for better upkeep and development of infrastructures.
The announcement from the World Bank coincides with the launch of an electrification project for 65 localities in Sotouboua, in the centre of Togo.
Financed to the amount of 13 million Dollars by the ECOWAS Investment and Development Bank, this includes the construction of 225,000 metres of medium-voltage networks and 144,000 metres of low-voltage networks.