This archive report was first published on 26 June 2020.
On June 18th, the African Development Bank approved a $3 million loan to Togo to support its agricultural sector, which has been severely impacted by the COVID-19 pandemic.
The loan will enable the earlier loan issued by the Africa Development Fund to be redirected to Togo's Agro-Food Processing Project, which will purchase farm inputs for over 150,000 farmers.
According to the AfDB, the inputs will boost agricultural production by increasing cereal and garden produce, resulting in an additional 12,700 tonnes of maize, 18,000 tonnes of rice, 1,700 tonnes of sesame seeds, and 2,200 tonnes of market garden produce.
Speaking on the funding, the bank's Director of Agriculture & Agro-Industry said, “In addition to reducing the effects of COVID-19 on food security, the planned input procurement operation will ultimately contribute to increasing production and thereby reduce food imports.”
Agriculture is Key to Togo ¶
Agriculture is a vital sector of Togo's economy, accounting for 40% of the country's GDP and 65% of employment. The pandemic has disrupted the food supply chain and threatened access to agricultural inputs, making assistance to the sector crucial to averting a looming food crisis.
Togo is also seeking additional support from the AfDB, with the bank considering a budget support package worth $27.44 million to support the country's economic and health resilience during the pandemic.
