Togo and Japan have signed an agreement of a grant worth 600 million Japanese yen (6.5 million U.S. dollars) for economic structural adjustment and debt relief, according to the Togolese Ministry of Finance.
The deal was signed by Togolese Finance Minister Adji Oteth Ayassor and the Japanese ambassador to Togo, Okamura Yoshifumi on Tuesday.
The Japanese diplomat said the grant will allow the Togolese government to buy products such as petroleum, construction materials and agricultural imports in order to stimulate economic activities in the country.
Okamura said this agreement will have a double economic effect since the government of Togo, at the time of selling products and other materials, will have the money to compensate the sellers. This money will help to realize several economic and social projects.
"The cooperation between Togo and Japan has always been active and fruitful," Ayassor said, in reference to agriculture, cattle breeding and fishing, water, education, professional training and the health sector.
This was the fourth development agreement between Japan and Togo between September 2008 and September 2009.
Source:Xinhua
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