Togo: IFAD releases CFAF 20 billion for MIFA

Gilbert Fossoun Houngbo, President of IFAD

The Board of Directors of the International Fund for Agricultural Development (IFAD) approved Tuesday, January 29, a financing of 20 billion CFA francs for the Support Project to the Risk-Sharing Agricultural Finance Facility (ProMIFA) .

The amount, it is said, will be staggered over a period of six (06) years from 2019. It is structured in three components in connection with the pillars of the MIFA, and will have to contribute to revolutionize the Togolese agriculture and the make business-oriented professional, through technical support for the development of agro-pastoral value chains and access to the market (38%), support for the development of financial products (45%) and institutional support for MIFA, coordination and management of ProMIFA (17%).

Launched last year with AfDB support, the MIFA is a Nirsal-inspired initiative in Nigeria.

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