International / Finance: Togo establishes itself as a key player in African development

Togo is actively participating in the annual general assemblies of the World Bank Group and the International Monetary Fund (IMF), which commenced on Monday, October 21, 2024, in Washington, D.C.

These discussions present a vital opportunity for the country to assess its current economic landscape and engage with ongoing agreements with these key international financial institutions.

The significance of Togo’s participation in these assemblies cannot be overstated.

The primary focus is on enhancing cooperation with the World Bank and the IMF to mobilize additional resources aimed at advancing development projects within the country.

Under the leadership of the President, Togo has emerged as one of the most effective countries in executing programs supported by the World Bank Group.

The institution is currently assisting Togo in the implementation of the “Access to the Gateway for Prevention and Resilience” project, designed to bolster the nation’s ability to withstand economic and climatic shocks.

Moreover, new funding opportunities are on the horizon with the upcoming implementation of the Country Partnership Framework (2025-2029).

This framework is set to support essential reforms and investments in critical sectors such as agriculture, energy, digital connectivity, and the development of secondary cities.

This initiative aims to enhance the country’s capacity to tackle development challenges, reduce poverty, increase shared prosperity, and foster sustainable growth.

In conclusion, the 2025-2029 Country Partnership Framework will serve as a strategic roadmap for the World Bank Group’s activities in Togo over the next five years.

It promises to provide crucial support for the necessary reforms and investments that will transform Togo’s economy and improve the living conditions of its population.

Chantal TAWELESI