The World Bank has lent 60 million dollars (GBP35 million sterling) to the Cement Societies of West Africa--CIMAO--to cover part of the cost of a proposed new cement factory in south west Togo.
SV INT World Bank Vice-President Roger Chaufournier (left) signing CIMAO Convention with Ivory Coast Minister of Mines and Geology Paul Gui Dibo
SV Togo's Minister of Public Works Ayite Mivedor signs convention
SV Ghana's Industrial Minister, Lt. Col B.K. Ahlijah signs
SCU Mivedor speaking
SCU Ahlijah speaking
SV Gui Dibo speaking
SCU Chaufournier speaking
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Background: The World Bank has lent 60 million dollars (GBP35 million sterling) to the Cement Societies of West Africa--CIMAO--to cover part of the cost of a proposed new cement factory in south west Togo.
SYNOPSIS: The Vice President of the World Bank, M. Roger Chaufournier, signed the loan agreement in Lome, Togo, last week, with CIMAO representatives including Mr. paul Gui Dibo, the Ivory Coat Minister of Mines, and Togo's Minister of Public Works, M. Ayite Mivendor.
Lt. Col. B.K. Ahlijah of Ghana -- the third member-nation of CIMAO -- also signed the convention, which releases the first 49.5 million dollars (GBP26 million sterling) of the loan. The remainder of the money from the World Bank will follow later. Other participants in the total cost of the cement factory, about 280 million dollars (GBP160 million sterling), include the African Development Bank, Canada's Agency for International Development, the European Development Fund, and the Arab Bank for Economic Development in African. During his visit, M. Chaufournieer also discussed regional col-operation in West Africa with Togolese President Gnassingbe Eyadema.