WASHINGTON, March 30, 2022 – The World Bank today approved $100 million in financing from the International Development Association (IDA)* to support Togo’s inclusive growth agenda and contribute to its efforts to create fiscal space and improve financial viability and service delivery in the energy and water sectors.
This second operation in a programmatic series of development policy operations aims to strengthen fiscal and debt management and improve financial viability and access to electricity and water for the most vulnerable households. It supports measures to increase tax revenues, enhance public investment efficiency, and strengthen public debt management and transparency. This support will help improve the financial performance and energy efficiency of Togo’s national electricity company (CEET). Lastly, the operation supports measures relating to the financial viability of Togo’s national water company (TdE), sustainable management of water resources, and improved access for the most vulnerable.
“The reforms supported by this operation are aligned with Togo Roadmap 2025 and aim to increase the fiscal space for sustainable financing of public services. Significant progress in domestic resource mobilization has been made in recent years. This financing supports transformative reforms to broaden the tax base while improving public spending efficiency by strengthening public procurement, public investment management, and Public-Private Partnership procedures,” said Hawa Cissé Wagué, World Bank Resident Representative for Togo.
This operation is in line with the priorities of the 2018-2022 National Development Plan, the government’s new roadmap for 2020-2025, and the reforms supported in the previous series.
*The International Development Association (IDA) is the World Bank’s fund for the poorest. Established in 1960, it provides grants and low- to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 76 poorest countries, 39 of which are in Africa. IDA resources help effect positive change in the lives of the 1.6 billion people living in the countries that are eligible for its assistance. Since 1960, IDA has supported development work in 113 countries. Annual commitments are constantly on the rise and have averaged $21 billion over the past three years, with about 61% going to Africa.
