Togo has signed three funding agreements worth 194 million U.S. dollars with the Islamic Development Bank (IDB).
The agreements were signed on Wednesday in Jeddah during the visit to Saudi Arabia by Togolese President Faure Gnassingbe.
The documents were signed by Adji Otèth Ayassor, Togo’s Finance minister and IDB president Ahmed Mohamed Ali.
The first agreement worth around 131 million U.S. dollars concerns the construction of Adoua-Kara road which links five regions in Togo. Its completion will enable Burkina Faso to have direct access to Lome port.
“The project will enable the Togolese government to improve the state of this strategic road, increase security and road safety, and also promote integration between Togo and its landlocked neighbouring countries,” Mohamed Ali said.
The second funding agreement will go towards improving and expanding access to basic education as well as supporting concerned institutions.
It will create learning opportunities for 16,800 students at primary and lower secondary levels, besides providing learning materials.
The funds will also be used on training of 1,500 teachers both at primary and secondary level.
The entire project will see contribution from the IDB worth more than 16 million U.S. dollars.
The third agreement concerns the energy sector. It will see 46 million dollars spent on electrification of 43 villages in northern Togo.