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International Finance Corporation to increase its "support" for Togo

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Lomé, Togo, July 11 (Infosplusgabon) - The International Finance Corporation (IFC), a member of the World Bank Group, has reiterated its commitment to support Togo's development, Infosplusgabon learned on Wednesday in Lomé from Sergio Pimenta, Vice-President of the institution, after his visit to Togo to take stock of the bank's operations in the west African nation.


Pimenta said "Togo presents opportunities and has the advantage of being a logistics hub with its deep water port in the West African sub-region and a financial center."

He said the country is home to several investment banks.

Pimenta, who visited IFC-funded projects as part of his 72-hour visit to the Togolese capital, also held talks with the Togolese authorities, including the head of state, as well as members of the private sector, for investment opportunities.

According to Pimenta, who is also the bank's Vice President for the Middle East and Africa, the IFC will open by the end of the year, an office in Lome to have closer relations with companies, assist them and create markets to cover development needs that cannot be supported by the public sector.

"Because," he stressed, "Togo has made efforts and has shown the will to make economic reforms in order to open its market."

A member of the World Bank Group, IFC, the world's largest private sector development institution in emerging markets, has a US$ 325 million investment portfolio in Togo, and is committed to strengthening its support to the private sector, particularly in the energy and agriculture sectors.





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