BADEA and Togo sign ‎a loan agreement

04/04/2012
BADEA and Togo sign ‎a loan agreement

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.‎

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