Funds mobilized under the partial credit guarantee will be allocated to green and social projects including climate adaptation, biodiversity preservation, sustainable agriculture, access to clean energy and pollution control
ABIDJAN, Ivory Coast, June 2, 2025/APO Group/ --
The African Development Bank Group (www.AfDB.org) and the Government of Togo have signed a partial credit guarantee agreement to support the country’s mobilization of a sustainable financing facility of €200 million.
Togo's Minister of Economy and Finance Essowè Georges Barcola and AfDB VP Nnenna Nwabufo signed an agreement for a partial credit guarantee to help the country mobilize €200 million
Provided by the African Development Fund, the concessional lending arm of the African Development Bank Group, this partial credit guarantee will enable the government of Togo to leverage its country performance-based allocation by four times to raise €200 million from international commercial lenders including Legal & General (L&G) and Deutsche Bank. The African Development Bank is lead arranger.
Funds mobilized under the partial credit guarantee will be allocated to green and social projects including climate adaptation, biodiversity preservation, sustainable agriculture, access to clean energy and pollution control. This is in line with Togo’s Sustainable Financing Framework as well as the country's 2020–2025 Government Roadmap, which prioritizes inclusive growth and climate-resilient development.
"This innovative operation is the result of the strategic guidance provided by His Excellency Faure Essozimna Gnassingbe, President of the Council, aimed at mobilizing innovative and sustainable financing solutions to support Togo's development program. By securing this 20-year sustainable loan, we are sending a strong signal to international investors about the strength of our economic governance, our financial credibility, and our commitment to developing the country in line with the Sustainable Development Goals," added Essowè Georges Barcola, Minister of Economy and Finance of the Republic of Togo.
"This transaction marks a significant milestone in Togo’s sustainable development journey. By leveraging the Fund’s guarantee products, Togo is not only accessing long-term, affordable capital but also enhancing its visibility among international investors. This operation is strengthening confidence in the country’s credit profile and lays the groundwork for future market-based financing under increasingly favorable conditions,” said Solomon Quaynor, Bank Group Vice President for Private Sector, Infrastructure and Industrialization.
Jake Harper, Senior Investment Manager, Asset Management at L&G said, “Channeling debt financing for sustainable outcomes will generate momentum towards bridging the $4 trillion annual SDG funding gap. L&G is proud to have partnered with the Fund as its first non-bank beneficiary lender, and the Government of Togo to support the sovereign’s crucial growth agenda. We believe these transactions and innovative financing methods are combating the historic risk-return misperception; and demonstrating the compelling investment opportunity for commercial institutional investors to contribute to global sustainable development with investment-grade credit risk.”
“Deutsche Bank is extremely honored to have been selected to work on this landmark inaugural exercise for the Republic of Togo together with our partners at L&G, as well as the African Development Fund, and also Global Sovereign Advisory, Financial Advisors to the country,” said Maryam Khosrowshahi, Deutsche Bank Managing Director, Chair Global Sub-Saharan Africa, Head Sub-Saharan Africa Coverage. “Leveraging our notable track record of similarly structured financings as well as our close engagement with the AFDB/ADF and the authorities, we have been able to deliver long term funding to the country at efficient terms and in support of critical green and social projects under their Sustainable Finance Framework.”
Approval of this sovereign operation comes as the African Development Fund enters the final stages of its 17th replenishment process. The project aligns with the Fund’s intended shift toward directly accessing capital markets.
“This transaction also showcases the innovative use of the ADF guarantee to increase financing volumes available for low-income countries, beyond the traditional performance-based allocations. It marks the first use of the Guarantor-of-Record structure with the ADF sharing a portion of the guarantee exposure with highly rated credit insurance partners,” said Hassatou N’Sele, Bank Group Chief financial Officer and Vice-President.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Good news hamdulilah !
People from Mogadishu and the former government of AUN Siyad are giving back to Somalia's second town…the separatists are meanwhile looting from the poor or holding them hostagevto 9th century tribal ideas and isolations that has placed the northern communities in limbo…now that Somali government is recognized as the only authority for all of Somalia…we will wait and see what the last two sub clan widows say next. Personally i want to bomb them until thick some and ashes are seen from space by NASA..
September 30 2010 Somalia lost a highly respected man AUN Mohamed Adan Sheikh
kkkkk
stop crying because it wasnt built in garowe
Kudos to the project.
Cheers.
Who agrees with this pic http://somalianews.files.wordpress.com/2013/01/so…
Looool brotha unless you looking for Muran (arguments) you know this map is dead wrong obviously Yaqoori and Caynaba fall under Khaatumo state, and why Buhoodle is outside of Somalia borders? Cajiib who designed this map tolow probably some khat head.
btw why are you fueling the problem and causing more crisis here lool let's just say midnimada Somalia waa muqadas, everything else will work itself out….
@Kinsi SHEEGATO,
You are talking trash as usual. You can be rest assured this hospital will be renamed as "Mujahid Lihleh Hospital" in a few years time . Marixaar and Heytiri have no place on Somaliland soil.
thank you to late Dr Mohamed A Sheik and his wife. to building that Hospital in Hargeisa. But it would have been better if they built else where in the south. bc Hargeisa already have its Hospital and if you giving charity you should give where need is bad. I have another guess that the widow see it that Hargeisa is reliable and the largest Metropolitan for somali speaking. Any way thank you for gift to Hargeisa
This is my first review about the first exclusive paedratic hospital to cater for the health needs of the children. By after reading this post I am success to collect a new experience about the child care hospital which helpful for the child to save their life. I've a passion for this kind of hospital.
The late Mohamed Adan Sheik was a personal friend of mine and the President; he shall forever have a special place in our hearts, as I also express my deepest gratitude to his widow,, his friends and most of all the people who embraced this noble idea which will improve the health of many citizens of this country,” said the first lady.
Dr. Heather Credeur