Overseas Private Investment Corporation (OPIC), Executive Vice President David Bohigian yesterday traveled to the West African country of Togo where he met with Togolese Prime Minister Komi Klassou and toured an OPIC-supported power plant that tripled the country's energy supply.
ContourGlobal, a U.S. based company, built the Lomé Thermal Power Plant in Togo with financing and political risk insurance from OPIC, the U.S. Government's development finance institution. One of the largest investments ever made in Togo, it succeeded in bolstering the country's energy generation capacity and significantly reducing rolling blackouts.
“American companies recognize the opportunities in West Africa – especially in Togo,” Bohigian said. “With a growing economy and need for investment in power, infrastructure, water, agriculture, and other development sectors, OPIC looks forward to growing our partnership with Togo and spurring investment,” Bohigian added.
During his visit, Bohigian also visited a local school in Lomé that has received support from ContourGlobal's social projects division. He also highlighted the activities of Mo-Lab, a mobile STEM learning center, which is a U.S. Embassy Lomé initiative created in partnership with ContourGlobal.
Bohigian will continue his travel to Cameroon where he will visit the Magrabi ICO Cameroon Eye Institute which is providing comprehensive, high-quality and affordable eye care procedures.
As part of his National Security Strategy, President Trump last month highlighted the need for a modernized approach by the U.S. Government to development finance to help promote economic relationships and increase investment in regions important to American interests.
Distributed by APO Group on behalf of U.S. Department of State.