The Togolese government and the International Bank for Reconstruction and Development (IBRD) have signed a deal to provide $200 million in funding to develop the country’s port infrastructure.
Strategic Partnership to Boost Economic Growth
The agreement, which was announced during a visit by a World Bank delegation led by Marie-Chantal Uwanyiligira, director of division for Togo, Côte d’Ivoire, Benin, and Guinea, marks a significant milestone in the country’s efforts to become a major logistics hub on Africa’s west coast.
State-of-the-Art Facilities and Modern Infrastructure
The Lomé Container Terminal (LCT) is set to undergo a major upgrade with the addition of modern infrastructure and specialized facilities, including mineral oil, petroleum, and conventional terminals.
The government has ambitious plans to develop the corridor littoral into several zones of attraction for logistics and commercial activities, as outlined in its Vision Togo 2040 strategy.
A Key Driver for Job Creation
Marie-Chantal Uwanyiligira emphasized the importance of the port’s development in driving job creation and economic growth, stating that ‘the way this port functions will have a significant impact on the performance of the economy and employment rates.’
‘As an institution, our priority is to create more jobs, especially productive ones,’ she added.
Boost to Economic Growth
The World Bank delegation was impressed by Togo’s progress in developing its port infrastructure, with Uwanyiligira noting that the country has made significant strides in increasing its competitiveness, outperforming some major economies.
‘We are delighted to support Togo’s efforts to develop its port infrastructure and become a key player on Africa’s west coast,’ she said.
