The review of the portfolio of projects financed by the World Bank in Togo was organized this Thursday, October 26, 2023. The work, chaired by Madam Minister, Secretary General of the Presidency of the Republic, Governor of the World Bank in Togo, Sandra Ablamba Johnson, reveal a performance in the management of projects of this Bretton Woods institution in Togo.
The results of the review’s work indicate that with regard to project implementation, “Togo achieved the best performance of the entire West and Central Africa region of the World Bank with a ratio disbursement as of June 30, 2023 of 43.5%.
According to the review examined, the portfolio of the World Bank Group in Togo has experienced significant development with a current total amount of 1,199.1 million USD or 719.46 billion FCFA. It has seven (07) national projects for a total amount of 452.10 million USD, or 271.06 billion FCFA, nine (09) regional projects amounting to 597.00 million USD, or 358.2 billion FCFA and budget support amounting to 150 million USD or 90 billion FCFA. « I would like to congratulate Togo for the exceptional performance achieved in terms of disbursement with the highest rate in West and Central Africa, the excellent score and the progress within the framework of the CPIA », commented Fily Sissoko, Resident Representative of the World Bank in Togo.
This significant improvement noted in recent months, underlines Sandra Ablamba Johnson, Minister, “is the fruit not only of the reforms but above all of the tangible results of the active diplomacy of the President of the Republic in this case the visit made to the headquarters of the World Bank in October 2022 on the sidelines of the annual meetings of the IMF and the World Bank ».
Indeed, this first review of the portfolio for the 2023 fiscal year responds to the desire of the World Bank and the Togolese government to carry out regular and close monitoring of financed projects. The review aims to take stock of project execution, capitalize on positive results, identify constraints and identify solution approaches. “The objective is to accelerate the consumption of resources and ensure the effectiveness and efficiency of the implementation of funded projects, for the benefit of the Togolese populations,” we inform.
The World Bank’s portfolio essentially covers five sectors: infrastructure, sustainable development, human development and economy and competitiveness. Apart from projects and programs relating to investments in specific sectors, the World Bank grants budgetary support on an annual basis to the Togolese government to support the implementation of economic and sectoral reforms which the country has adopted.