Togo signs USD 40 million deal with Exim Bank of India

Togo and Exim Bank of India signed on June 23, 2021 in Lomé, an agreement of 40 million USD for an electrification project of 350 localities by solar photovoltaic systems in the country. An amount that the Indian institution is making available to Lomé through the International Solar Alliance.

“This project is in line with Togo’s Electrification Strategy and fits perfectly with the National Development Plan (PND) and the objectives of the Togo 2025 roadmap, particularly in its axis 1 which is to strengthen the ‘social inclusion and harmony and guaranteeing peace,’ commented Sani Yaya, Minister of Economy and Finance of Togo who initialed the loan agreement with Selva Kumar, representing Exim Bank of India. “In addition, it is linked to sustainable development objective N ° 7, which is to guarantee access for all to reliable, sustainable and modern energy services, and at an affordable cost,” added the Togolese minister.

The signing of this agreement comes the day after the inauguration of a 50 MW photovoltaic solar power plant in Blitta (a town 262 km north of Lomé), touted as the largest solar power plant in West Africa. The infrastructure, which cost USD 135 million and financed, among others, by the Abu Dhabi Fund for Development and the West African Development Bank (BOAD), will generate around 90,255 MWH of energy per year and serve more of 15,000 Togolese households.

LEAVE A REPLY

Please enter your comment!
Please enter your name here