Africa Financial Sector Responses to COVID-19 - Togo

Jul 28, 2020

This page presents measures and initiatives by the Togolese government, national central bank and Development Finance Institutions (DFIs) in support of a resilient domestic financial sector facing the effects of the COVID-19 pandemic.

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Instrument

Institution

Financing volume

Description 

Financial support measure for the private sector Government  USD 36 million (25 august 2020) The government is establishing a 20 billion FCFA (36 million FCFA financing facility in support of MSMEs impacted by the Covid-19 crisis.

Treasury Bills

Government

USD 126.8 million

(August 17, 2020) Issuance of treasury bills (COVID-19 Social Bonds) on the financial market of the West African Monetary Union (WAMU) for an amount of 70 billion CFA (USD 127 million).

Measures to support the private sector

Government

N/A

(July 30,2020) The Togolese Government has launched a digital credit programme at 0% interest rate for farmers. This platform is the result of collaboration among various ministerial departments - the Ministry of Agriculture, the Ministry of Digital Economy and the Ministry of Finance.

Treasury Bills

Government

USD 187 million

(May 14, 2020) Issuance of treasury bills, known as "COVID-19 Social Bonds" to investors on the financial market of the West African Monetary Union (WAMU) for a subscribed amount of 108 billion CFA francs (USD 187 million).

Financial measures

Government

USD 678 million

(April 02, 2020) A national solidarity and economic recovery fund of 400 billion CFA francs (USD 678 million) has been set up.