These agreements come a few months after BADEA, which is active in a number of development projects in Togo, announced its ambition to strengthen its portfolio in the country.
Togolese SMEs will benefit from additional support from the Arab Bank for Economic Development in Africa to help their development. On the sidelines of the international Africa SME Champions Forum held in Lomé, the government signed an agreement worth 10 billion FCFA ($16.2 million) with the bank to this effect.
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The agreement was signed by BADEA CEO Sidi Ould Tah and Togo’s Minister of Economy and Finance, Sani Yaya. This major facility is accompanied by a second loan of 200 million FCFA “earmarked for technical assistance to SMEs”, said the latter. Victoire Tomegah-Dogbe, the head of the Togolese government, invited SMEs to take advantage of the facility as quickly as possible.
Another agreement was signed with AGF to strengthen guarantees for local SMEs. The aim is to bolster the guarantee mechanism through lines of credit and capital participation