The World Bank Group and Togo Forge a New Partnership Chapter

The World Bank Group (WBG) has endorsed a new Country Partnership Framework (CPF) for Togo, marking a significant milestone in the partnership between the two entities. The CPF, which will guide the WBG’s interventions in Togo over the next five fiscal years, aims to reduce poverty, increase shared prosperity, and promote sustainable development for the country’s population of over 8 million.

The new strategy includes three high-level objectives focused on creating quality jobs, improving human capital, and promoting inclusive and resilient territorial development. Additionally, the CPF emphasizes strengthening the macroeconomic framework and governance as cross-cutting themes.

In a statement, Ousmane Diagana, World Bank Vice President for Western and Central Africa, expressed commitment to supporting Togo’s ambitious development strategy through innovative and transformative programs. The WBG interventions will primarily focus on key sectors such as agriculture, energy, logistics, and connectivity to drive structural transformation of the Togolese economy.

The WBG’s integrated approach, involving the World Bank, International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA), will provide solutions in priority sectors to increase impact in Togo. IFC Vice President for Africa, Sérgio Pimenta, highlighted the importance of private sector participation in sectors like agribusiness, infrastructure, and digital technologies.

Furthermore, the Board of Directors granted a waiver for Togo to access resources from the Prevention and Resilience financing Window, and approved three new IDA-financed operations totaling almost $298 million. These operations will focus on strengthening access to reliable electricity, improving public administration performance, and supporting social cohesion in Togo.

Overall, the new CPF signifies a significant step in the partnership between the World Bank Group and Togo, with plans to mobilize over $1.5 billion to support reforms and investments in strategic sectors, benefiting youths and women in the country.