At the side meeting of the Islamic Development Bank Group Annual Meeting in Khartoum, the Arab Bank for Economic Development in Africa (BADEA) and the Republic Togolese sign in Khartoum, Sunday, 1, April 2012, a loan agreement worth US $ 10 million US dollar to participate in financing Kpalimé - Atakpamé"; lot : "Adagali - Atakpamé" Road Project. The loan, which is to be reimbursed over a period of 30 years, includes a grace period of 10 years and has an annual interest rate of 1%.
The project is among the priorities of the transport sector in Togo. The project aims to contribute to the economic and social development of Togo, raising the level of the national road network and linking to neighboring Ghana. It aims also to improve the traffic efficiency and reduce the cost of transport and the development of economic and commercial activity of the region, which is the largest one in the country in terms of area and population density and it is the most productive areas for coffee, cocoa and cotton.
Abdelaziz Khelef, Director General signed on behalf of BADEA, while Adji Otéth Ayassor (photo), Minister of Economy and Finance signed for Togo.
It is worth-mentioning that, by the end of March 2012, BADEA’s total assistance to the Republic of Togo reached US $ 55.305 million for participating in financing 19 development projects (9 projects & 10 technical assistance operations.