BOAD Approves 30 Billion FCFA funding for Togo’s Agro-Food Processing Zone Project
On June 27, 2024, the West African Development Bank (BOAD) approved a substantial financing package of 30 billion FCFA to support the second phase of Togo’s Agro-Food Processing Zone Project (PTA-Togo).
This initiative is designed to strengthen Togolese agriculture and reduce the country’s dependence on food imports.
This new funding follows the success of the project’s first phase, which received a 10 billion FCFA investment from BOAD in 2018.
The initial phase laid the groundwork for significant advancements in Togo’s agricultural sector.
The second phase aims to build on these foundations and broaden their impact.
The second phase of PTA-Togo will focus on enhancing agricultural production in several strategic sectors, including rice, maize, soybeans, sesame, broiler chickens, and cashew nuts.
These sectors were chosen for their potential to improve Togo’s food security and generate income for local farmers.
By increasing production in these areas, the project seeks to reduce Togo’s reliance on food imports and promote sustainable, resilient agriculture.
According to BOAD, this 30 billion FCFA investment is essential for accelerating the transformation of Togo’s agriculture.
It will not only boost agricultural output and productivity but also develop supporting infrastructure such as storage and processing facilities.
Additionally, the project will enhance farmers’ skills through training and technical assistance.
Overall, the second phase of PTA-Togo aims to consolidate the gains from the first phase and extend its benefits, ensuring a more robust and self-reliant agricultural sector for Togo.
Chantal TAWELESSI
