Export-Import Bank today said it has extended two line of credit (LOCs) worth USD 82 million to the Government of Togo.
Under the agreement, Exim Bank has extended USD 30 million for financing rural electrification project to cover 150 localities in Togo and USD 52 million for setting up of 161 KV power transmission line in the country, the bank said in a release.
With the signing of these two LOC agreements, the bank has so far extended four LOC to Togo, taking the total value of LOC to USD 110.095 million.
The first LOC of USD 15 million was extended to Togo in July 2011 for financing the rural electrification project in Togo.
The second LOC of USD 13.095 million was extended in December 2011 for financing farming and cultivation of rice, maize and sorghum in Togo.
Togo is a western African country bordered by Ghana to the west, Benin to the east and Burkina Faso to the north.
