The lates from Togo.Togo: the continuing need for reforms to...

The lates from Togo.

Togo: the continuing need for reforms to strengthen the portfolio of partners


Published 2012-06-15 10:49:45 | French. News. Cn
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LOME, June 14 (Xinhua) - The Togolese government will continue reforms various companies in this country hope for building portfolios of technical and financial partners, said Thursday Operations Director of the World Bank for Africa, Madani Tall.

It was on the sidelines of a two-day joint review, which began Thursday, on the portfolio of the World Bank (WB) and the African Development Bank (ADB) for a reorientation of their interventions at the bedside of the stimulus economic and infrastructure reconstruction of Togo.

According to Mr. Tall, to strengthen the portfolio of these institutions, Togo must "continue reforms".

These include, in its analysis of fiscal consolidation, reduction of corruption, a climate of comfort to investors and work on good governance.

Specifically, the review examines the performance of joint projects with an analysis of the major constraints that have hampered the implementation of operations.

With advances noted in the ongoing reforms since 2005, Togo in December 2010 has reached the completion point under the Initiative for Heavily Indebted Poor Countries (HIPC) and has benefited from a reduction of almost 80% of its debt external.

In this country, the intervention of the World Bank for nine projects in progress totaled 273.36 million, or $ 34 billion CFA francs. It has funded nearly $ 12 million in the privatization process in the finals of four large state banks on their knees by bad debts.

The African Development Bank (ADB) has invested nearly 92 billion CFA francs for 17 projects in execution with the prospect of intervening in the recovery of the phosphate sector.

In this sector, Togo intends to modernize infrastructure and plans to build a phosphoric acid plant with the exploitation of its phosphate reserves of carbonate.