The West African Development Bank (BOAD) has approved two new financing projects for Togo, for a cumulative amount of 82 billion CFA francs. These resources will be devoted to agricultural mechanization, irrigation and the expansion of storage capacities for petroleum products. These two financings were validated at the 152nd Ordinary Session of the Bank’s Board of Directors, held on September 24, 2026, in Lomé, the institution’s headquarters.

The main envelope, amounting to 45 billion CFA francs, will finance the third phase of the Support Program for Agricultural Mechanization and Irrigation (ProMAI). The project involves the development of 530 hectares and the acquisition of irrigation equipment to generate an additional production of at least 100,000 tonnes of rice per year and create jobs, particularly for young people and women.

This financing extends BOAD’s commitment to the country’s agricultural modernization. Last June, the institution had already increased its support to 60 billion CFA francs for the national mechanization and irrigation program. In the energy sector, BOAD is mobilizing 37 billion CFA francs for the extension of the storage capacities of the Lomé Petroleum Complex (COMPEL SA). The project will add 170,000 m³ of additional capacity to strengthen the energy security of Togo and the hinterland countries. This infrastructure is part of Lomé’s growing role as a regional logistics hub, with its port and storage capacities contributing to the supply of several landlocked countries in West Africa.

Located 3.5 kilometres from the Port of Lomé, COMPEL has a current operational capacity of 244,000 m³ and is one of the main oil depots on the West African coast. The site is equipped with dedicated pipelines per product, an oil quay capable of accommodating 250-meter-long vessels, and high-throughput loading facilities for regional distribution. The depot supplies Burkina Faso, Mali and Niger via the Lomé logistics corridor.