See also:
» 03.11.2009 - Togo gets first direct EU grant
» 14.09.2009 - New pan-African rice centre adopted
» 23.12.2008 - Togo gets finance for its 100 MW electricity project
» 07.10.2008 - Lome based African Commercial Bank gets boost from ECP
» 03.12.2007 - EU lifts Togo ban
» 14.11.2007 - Togo benefits EU grants
» 22.12.2006 - Togo receives first EU funds in years
» 22.06.2005 - Cameroon, Togo, Gambia "bought by whaling nations"

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Economy - Development | Politics

Togo optimistic on economic recovery

afrol News, 19 May - After the recent lifting of sanctions against his country, Togolese Prime Minister, Komlam Mally is optimistic of true economic recovery for the West African republic, saying the priority is now to invest in the most impoverished citizens of the country, he told the state media in an interview.

The world has recently opened its doors on Togo, ending a 15 years streak of sanction with the return to democracy in October 2007.

With the European Union, the United States and other players coming as the biggest partners in Togo's recovery road, Mr Mally says the government is working from all sections to achieve results. He says that all those in government, being from the majority party, opposition or members of the civil society know the challenges and have the responsibility to deliver to the people. The expectations of the people, he said, were enormous.

His recent visit to the Islamic Development Bank will see Togo get about US$ 42 million geared towards projects in the education sector, clean water supply as well as rural infrastructure, over and above the recently signed agreement with the EU providing about Euro 123 million for a three year period – 2008-11.

The development funding from the EU takes into account, amongst others, economic recovery and infrastructure support, governance and institutional reforms. According to Mr Mally, all projects would have been developed by the end of the year.

With most international partners' doors opening for Togo, the West African Republic is also seeking for the cancellation of its US$2 billion owed to the international agencies as well as the crediting nations of the Paris Club.

The EU resumed full economic cooperation with Togo late last year after 14 years of isolation. The successful holding of the parliamentary elections, won by the ruling RPT party of President Faure Gnassingbé, contributed to the opening of the cooperations.

Togo, which gained independence in 1960 has gone under decades of authoritarian rule and some of the worst periods of bloody unrest.

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