The World Bank Group (WBG) has approved a $300 million initiative to help Togo establish itself as a regional center for agribusiness and animal nutrition. This funding will support the scaling up of Togo's Agricultural Modernization Program (ProMAT) and aims to transform the country's agriculture sector through investments that enhance productivity.
The Sustainable Agriculture Transformation Program-for-Results (PforR) will unfold over ten years, with financing distributed in two phases: $150.2 million in the first phase and $149.8 million in the second. The program's goals include strengthening agricultural institutions, improving access for smallholder farmers to mechanization, financial services, and markets, as well as encouraging private investment. Additionally, it will focus on expanding irrigation and water management services across 7,200 hectares and promoting climate-smart agriculture technologies. It also intends to sustainably manage 50,000 hectares of land. The program is expected to benefit over 340,000 farmers—114,000 women and 102,000 youth—and create 72,500 jobs.
"At the 2024 Togo Agricultural Producers' Forum, farmers expressed their strong desire for the World Bank Group to support the transformation of the agricultural sector," said Fily Sissoko, World Bank Resident Representative for Togo. "This innovative program jointly led by the World Bank and the International Finance Corporation (IFC), is a first. It is based on an integrated approach that draws on the Group's complementary expertise: IFC contributes its know-how in contract farming and high-impact agribusiness development; the World Bank provides policy support; and the Multilateral Investment Guarantee Agency (MIGA) offers guarantees to facilitate access to trade finance."
"Increased private sector participation is essential to support modernization of agriculture," stated Josiane Kwenda, Regional Representative for Benin, Côte d'Ivoire and Togo. "By fostering innovation, facilitating access to finance, and strengthening value chains...the mobilization of private investment will therefore play a key role in achieving Togo's ambition."
The initiative finances ProMAT's first phase from 2025-2034 under government leadership aiming at enhancing activities within the Agricultural Transformation Agency (ATA). The focus lies on transforming subsistence farming into market-oriented agriculture while expanding Planned Agricultural Development Zones (ZAAP).