Africa50: Financing development projects in Togo

Togo, a country intent on transforming itself into a logistics hub in West Africa, is making significant strides in advancing its infrastructure with the support of the African Development Bank (ADB). Wilfrid Abiola, the Country Manager for West Africa Regional Office at the ADB, highlighted the pivotal role of the bank in promoting development projects in Togo during a recent interview with CNBC Africa. Abiola emphasized the importance of showcasing Togo as an attractive investment destination, despite its lack of abundant natural resources, through infrastructure developments. As Togo positions itself as a strategic service and logistics hub in the region, the ADB is working closely with the government to facilitate key projects that will drive economic growth and create employment opportunities. One of the major projects spearheaded by the ADB in Togo is the expansion of the country's airport to cope with the growing air traffic demand. Abiola mentioned that the bank is currently assisting the Togolese government in developing a new strategic plan for the airport over the next two decades. The airport expansion project is crucial for enhancing connectivity in the region and attracting more investments to the country. By investing in critical infrastructure like airports, Togo aims to improve transport links and foster trade relationships with neighboring countries. In addition to enhancing its aviation infrastructure, Togo is placing a significant focus on agricultural development as part of its economic transformation strategy. Abiola underscored the ADB's commitment to supporting agricultural initiatives in Togo, particularly in the Kara region where a substantial agricultural project was approved in 2018. The ADB is collaborating with the government to increase the size of farmlands available for investors and is gearing up to establish an agro-processing zone to further bolster the agricultural sector. By investing in agriculture, Togo aims to spur job creation, especially for the youth and rural communities, and drive overall economic growth. Furthermore, the ADB's development priorities in Togo extend to infrastructure projects, including road construction initiatives. Abiola revealed that the ADB is leading the financing for a new road construction project that will enhance transportation connectivity in the country. Moreover, the bank is exploring opportunities to fund the construction of a road in the northern part of Togo, which will divert traffic from neighboring Benin and potentially boost trade routes with Burkina Faso. These road infrastructure projects are integral to improving logistics efficiency and facilitating trade within the region. As Togo progresses towards becoming a logistics and service hub in West Africa, the partnership between the government and organizations like the ADB plays a crucial role in driving sustainable development and fostering economic progress. By investing in key sectors such as aviation, agriculture, and infrastructure, Togo is laying the foundation for long-term growth and prosperity. The collaborative efforts between the ADB and Togo underscore a shared commitment to harnessing the country's potential and accelerating its journey towards economic transformation and regional leadership.