Togo The EU disburses 16 million euros in support for the 2019-2020 budget L’UE verse 16 millions d’euros pour soutenir le budget 2019-2020

The European Union disbursed on January 15, 2020, the first tranche of budget support to the Togolese government for the period 2019-2020.

The disbursement, effective since last December, concerns an amount of 16 million euros (about 10.5 billion FCFA) under the fixed tranche (8 million) and under the variable tranche (8 million). These funds go directly to the financing of the state budget adopted by the National Assembly under the 2019 finance law.

The European decision was based on the government’s sustained efforts in terms of economic reforms and improving the business climate. The EU also took into account economic performance, the implementation of macroeconomic policy dedicated to fiscal consolidation and the reduction of public debt.