Togo ICTA (IFC-602205)

Countries
  • Togo
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 11, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ministry of Urban Development
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Project Cost (USD)
$ 0.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 31, 2018

Disclosed by Bank Jul 17, 2018


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Project Description

Project Description

The objective of the two-year program is to carry forward select activities necessary to improve critical elements of Togo's business environment: Starting a Business, Dealing with Construction Permits, Registering Property, and Enforcing Contracts. These efforts will result in improvements in Togo's performance in metrics used in the World Bank Doing Business Report, cost savings and increased efficiency in public sector intermediation of private sector activity. Increased predictability and streamlining of these processes, will decrease risks and encourage investment.

The project will have the following components:

1. Decrease time and cost required for construction permitting.
The project will fund technical assistance to accompany the Ministry of Urban Development and the City of Lome in the rollout, improvement and follow up for key elements of the construction permitting systems to ensure that hardware, staff, assets, training, communications and organizational activities take place. Currently, the city of Lome, the Ministry of Urban Development possess the necessary equipment, and all legal inter-ministerial decrees, regulations and other pre-requisites are in place, but the client needs technical assistance from experts to push forward the training, communications, system cut over and going live of the new construction permitting system and accompanying new regulations/processes.
2. Increase the efficiency of administrative procedures for registering property and managing property-related information.
The project will fund 30 interns to assist in the conversion of paper titles to digital titles. This will help the client to scale up efforts already underway, and contribute to implementing badly-needed IT systems to manage the issuing and transfer of property titles.
3. Decrease the cost and time required for enforcing contracts.
The project will train and provide the Chambre Commerical (Commercial Court) with technical assistance to communicate the changes in processes to stakeholders and other beneficiaries. This will encourage businesses to use the Chamber to settle business disputes. This technical assistance will improve the quality and website management capabilities of the Commercial Court so that information on judgments, process and other relevant information is accurate and available in a timely manner. The project will fund interns to assist in the digitization data. It will also fund 2-4 magistrate interns to produce and emit judgements for old court cases in order to reduce the ~600 case backlog of the Chambre.

4. Increase the quality of service provided by, and encourage users to register their businesses with the Centre de Formalite des Entreprises (CFE). Promotional and communication efforts will be financed to encourage economic operators in the informal sector, particularly women, to formalize their enterprises and benefit from the advantages of formalization. The project will fund: awareness-raising campaigns in Lome and in major cities in the interior of the country, commercials on national television, kakemonos, panels and posters in Lome and in major cities, and signage on vehicles in large cities' markets. The project will also research the impact of formality on SME longevity and performance to inform SME development strategies.

5. WAEMU-wide workshop in Lom to share experiences in implementation of business registration and Registre de Commerce et Credit Mobilier (RCCM) systems. RCCM systems are used to register businesses and register collateral in order to secure loans. Implementation of these systems is dictated by the OHADA laws and regulations. Togo has gone online with its RCCM system, and is a leader in the WAEMU zone. This event will also serve to raise the issue about the publishing credit information and encouraging banks to share it. This is key to improving the scores of WAEMU countries in the Access to Credit element of the Doing Business indicators.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

No contact information provided at the time of disclosure. 

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