Togo is set to launch the PPP Environment Strengthening Project for the Promotion of Private Investments (PREPIP), spearheaded by the African Development Bank and already operational in several other African nations. In this regard, the financial institution will allocate 823 million CFA francs to Togo, as reported by the Togolese Ministry of Economy and Finance.
This initiative will unfold over a two-year timeframe, allowing the coastal nation, which is already dedicated to enhancing public-private partnerships (PPPs), to further bolster this framework to encourage private investment. The project will prioritize the enhancement of the institutional and legal structures governing PPPs, alongside the capacity building of involved stakeholders.
Additionally, the project will support the development of gender-sensitive initiatives while fostering private sector growth. To this end, Togo will implement the Environmental and Social Management Plan (ESMP), a strategy designed to boost its appeal to both domestic and international investors.
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The execution of this project is expected to empower the “PPP Unit,” established in 2022 to facilitate collaboration with private entities, to expedite its efforts. This unit’s role is to assist and guide contracting authorities in the planning and execution of public-private partnership agreements.
The Togolese government’s goal is to enhance the nation’s competitiveness and diversify funding sources for the development of essential infrastructure, ultimately aiming to improve the living standards of its citizens.
