Petroleum Africa
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Tuesday, May 27, 2014
Togo and the International Fund for Agricultural Development (IFAD) signed a loan and grant agreement for a $39.6-million project to help small businesses in rural communities.
The Togo National Rural Entrepreneurship Project will be co-financed with a $10.8-million loan and a $10.8-million grant from IFAD directly, plus support from other technical and financial institutions and the government of Togo. The project will be managed by Togo’s Ministry of Agriculture, Livestock and Fisheries, complementing and reinforcing other current rural development initiatives in the country, such as the Support to Agricultural Development Project funded by IFAD, the Agriculture Sector Support Project and the Private Sector Development Support Project by the World Bank, and the Grass-roots Development Support Project funded by the African Development Bank.
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