Africa Financial Sector Responses to COVID-19 - Togo

Jul 28, 2020

As a Partnership committed to the African financial sector (AFS) development and resilience, Making Finance Work for Africa (MFW4A) has implemented a number of recent initiatives to strengthen the resilience of the African financial sector.

In addition to its webinars series and discussions aimed at identifying the sector's difficulties and solutions, a portal dedicated to domestic and international responses to the impact of COVID-19 on the regional financial sector has been set up.  The exercise consists in monitoring, collecting and classifying by country or region the measures taken by governments, central banks and DFIs in in support of the AFS vis-à-vis the financial impact of the pandemic. 

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.

Instrument

Institution

Financing volume

Description 

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.

Treasury Bills Government USD 187 million (May 14, 2020) Issuance of treasury bills, known as "Bons Social Covid-19" 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).