The World Bank today approved a $35 million (about FCFA20 billion) International Development Association (IDA) credit to support the country’s investments in the energy sector.
The newly approved Togo Energy Sector Support and Investment Project (TESSIP) will help improve the operational performance of the power sector and increase access to electricity in the capital city, Lomé. It will benefit over 80,000 people and small businesses in the urban and peri-urban areas of Lomé who will receive additional daily hours of electricity and a better voltage of electrical current that will enable adequate running of their electrical equipment.
Pierre Laporte, World Bank Country Director for Togo, said, “TESSIP will help Togo in reaching its goals of increasing access to reliable and competitively priced electricity, which is essential for business development, job creation, income generation and international competitiveness. Moreover, it will help create an environment likely to ensure the financial viability of the energy sector so that the private sector can engage in power generation and along the entire value chain.”
