|Approval Date||26 Jan 2015|
|Signature Date||15 Jun 2015|
|Planned Completion Date||31 Dec 2018|
|Last Disbursement Planned Date||31 Dec 2018|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11231|
The Kara and Lomé Markets Reconstruction and Traders Support Project (PARMCO) aims at the reconstruction of these two markets which were destroyed by fire in January 2013. The Lomé Main Market housed more than 10,000 traders (90% of them women) and the Kara Central Market about 2,500 traders (75% of them women). In fact, a commission set up by the Government following the fire disasters to identify victims and propose measures to assist them, identified to 3,016 traders directly affected by the disasters. The loss suffered by the traders is estimated at CFAF 5.9 billion. This support project includes the conduct of architectural studies and engineering of the markets to be rebuilt, construction of the new markets, and awareness-raising activities for traders on the need to formalize their activities, subscribe to insurance policies, and open accounts in banks or micro finance institutions, and to avoid hoarding. The project’s total cost, excluding tax and duties, is estimated at UA 14 ,548,257. PARMCO will be implemented over four years, and will be articulated around three components: (i) support for the reconstruction of the markets; (ii) capacity building of trade sector actors; and (iii) project management.
The project’s objective is to contribute to revitalizing and modernizing the trade sector in Togo following the fire disasters of the Kara and Lomé markets. The project's specific objectives are: (i) to facilitate reconstruction of the burned-out markets; (ii) improve the management of traders’ activities and enhance the efficiency of their support; and (iii) promote job creation, particularly for youths.
The project's beneficiaries will include mostly traders, women entrepreneurs, officials of the Ministry of Trade and Private Sector Promotion, the Autonomous Local Public Establishment for the Operation of Lomé Markets (EPAM) and Kara Markets Authority (RMK) as well as young graduates, totalling about 15,000 persons.
Fund for African Private Sector Assistance
Direction de la Promotion du Secteur Privé (Ministère du Commerce et de la Promotion du Secteur Privé)
|Last Update||09 May 2021|