Washington — The World Financial institution Group (WBG) right this moment permitted $300 million to assist Togo place itself as a regional hub in agribusiness and animal diet by scaling up Togo’s Agricultural Modernization Program (ProMAT) and remodeling the agriculture sector via productivity-enhancing investments.
This results-based Sustainable Agriculture Transformation Program-for-Outcomes (PforR) will span ten years, with financing delivered in two phases: $150.2 million for the primary part and $149.8 million for the second. This system goals to strengthen agricultural establishments, enhance smallholder farmers’ entry to mechanization, monetary providers, and markets, and encourage non-public funding. It’s going to assist the growth of irrigation, drainage, and water administration providers throughout 7,200 hectares in addition to farmer entry to climate-smart agriculture applied sciences and practices. It’s going to additionally promote the sustainable administration of fifty,000 hectares. Greater than 340,000 farmers – together with 114,000 girls and 102,000 youth – are anticipated to profit from the creation of 72,500 jobs.
“On the 2024 Togo Agricultural Producers’ Discussion board, farmers expressed their robust want for the World Financial institution Group to assist the transformation of the agricultural sector,” mentioned Fily Sissoko, World Financial institution Resident Consultant for Togo. “This revolutionary program collectively led by the World Financial institution and the Worldwide Finance Company (IFC), is a primary. It’s based mostly on an built-in strategy that pulls on the Group’s complementary experience: IFC contributes its know-how in contract farming and high-impact agribusiness improvement, the World Financial institution offers coverage assist, and the Multilateral Funding Assure Company (MIGA) provides ensures to facilitate entry to commerce finance, notably for the acquisition of fertilizers, seeds, and agricultural gear.”
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“Elevated non-public sector participation is crucial to assist the modernization of agriculture and make it a real engine of development and job creation in Togo. By fostering innovation, facilitating entry to finance, and strengthening worth chains, IFC, in collaboration with the World Financial institution and MIGA, goals to equip agribusinesses and smallholder farmers with the instruments to enhance productiveness and thrive in trendy agriculture. The mobilization of personal funding will subsequently play a key position in attaining Togo’s ambition to develop into a dynamic regional hub within the agribusiness sector,” mentioned Josiane Kwenda, Regional Consultant for Benin, Côte d’Ivoire and Togo.
The Sustainable Agricultural Transformation Program is financing the primary part of Togo’s Agriculture Modernization Program (ProMAT 2025-2034). This Authorities-led program goals to strengthen the actions of the Agricultural Transformation Company (ATA). It additionally seeks to remodel subsistence agriculture practiced by Togolese smallholder farmers into market-oriented agriculture, together with a scaling up of the Deliberate Agricultural Growth Zones (ZAAP) program.
