In cash value, this equates to 1300 billion CFA. Dividing the budget (4622 billion) of the National Development Plan (PND) over five years, the annual average in terms of resources to mobilize is around 924.4 billion F CFA. A much lower amount compared to what only the financial system could bring.
According to the International Monetary Fund (IMF), "the PND is financeable" following three conditions: Improvement of the mobilization of home resources or internal revenues; the consolidation of macroeconomic stability; structural and structuring reforms are the three recommendations of the IMF.
"The financing of the PND can be mobilized and as part of our cooperation with the government as a financial institution, we are moving towards these three ingredients," says Jules Tapsoba, IMF representative resident in Togo. For him, Togo is already making progress in these different areas which seems to reassure the IMF.
"In terms of revenue mobilization, programs are underway with Togo, which is the best in the subregion.For two years, we have a program with Togo in terms of macroeconomic stability.
The debt has become sustainable and the reforms are progressing," greets Mr. Tapsoba.
The government expects more from the private sector!
On the government side, it is reassuring to have measured the scope of the situation by focusing from the outset on the private sector instead of the banks. For the financing of the PND, 65% of the contributions, that is about 3000 billion F.cfa is expected from the private sector.
"Today, the banking landscape of Togo and the sub-region is made up of commercial banks and therefore can not finance the PND, because on the financial market, traditional banks have shown a certain hesitation in financing long term projects given the structure of their resources, "analyzes Sani Yaya, Minister of Economy and Finance.
"The government, in agreement with the partnerships, has set lines of credit with banks for SMEs-SMI in the framework of the risk sharing of which SFI, Atlantic bank, Afreximbank", informs the minister Sani Yaya during a panel of the first Togo-European Union Forum.
The PND, to remember is declined in three axes whose axis2 devotes a preponderant place to the agricultural transformation.