The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
Tunis, 24 July, 2006 - The Board of Directors of the African Development Fund on Monday in Tunis approved a grant to help the Togolese government’s efforts to improve macro-economic management as well as its bid to restore relations with various development partners.
The Institutional Capacity Building Support Project, financed by the ADF to the tune of 2.2 million Units of Account (US$ 3.3 Million or 1.7 billion CFA), will enable the government strengthen capacity in the formulation, implementation and monitoring of economic policies.
The project will also help the Togolese government strengthen macro-economic management by improving economic projection, budget formulation and public debt management. It will also contribute to the strengthening of budget implementation and monitoring by improving treasury management, pay scheduling and financial control.
It will enable the government produce reliable and timely documents to aid decision-making, better monitor and manage external and internal debt, strengthen the legal and institutional framework for economic and financial administration, codify the budget functions of the Budget Department under the supervision of the Minister in charge of Finance as well as fill staff vacancies. The government will also be able to better manage liquidity, based on the production of reliable and timely monthly liquidity plan. The project will also result in reliable pay commitment and fund appropriation and shorter processing periods at the Finance Department (acquisition of equipment, integrated systems, staff training). Six hundred professionals, 30% of them women, from different agencies involved in macro-economic and fiscal management, will be trained to fill vacancies. Financial and economic management will be provided using information technology and office automation equipment.
With a view to normalising relations with various development partners, the government has drawn up a programme to address the institutional and structural constraints and to renew international financial cooperation. The government’s programme has four pillars: resumption of political dialogue and improved security environment, public finance stabilization and financial sector reorganization, resumption of structural and sector reforms and promotion of good governance and capacity building.
ADB Group operations in Togo commenced in 1972. To date, its commitments in the country stand at 100 billion CFA in 28 operations.
* UA 1 = USD 1.47937 = CFA 763,317 as at 24/07/2006