According to an August 2022 International Finance Corporation (IFC) press release, energy supplier, Zener SA will receive €16.2 million from the IFC to promote affordable and clean energy in Togo by helping the country build more liquefied petroleum gas (LPG) storage terminals and equip more filling stations with LPG cylinders and solar kits.
Funding will help reduce the country’s carbon footprint
“Zener owns the only seaborne LPG import terminal in Togo, which is currently operating at maximum capacity. The support from IFC will enable Zener to expand the terminal to continue increasing LPG adoption and help reduce the country’s carbon footprint as consumers adopt LPG as a better alternative to biomass fuels,” said Jonas Daou, Managing Director at Zener.
This loan from IFC and its partners will contribute towards the country’s achievement of SDG7 (clean and affordable energy) and SDG13 (climate action). The loan will also open up new opportunities for Togo, which has signed and ratified the African Continental Free Trade Area (AfCFTA) agreement.
Togo as a regional hub
“IFC’s financing will help Zener expand capacity in the comparatively lower-carbon LPG value chain and thus improve service quality and distribution efficiency, as well as the export of LPG to neighbouring landlocked countries. That aligns with the government’s goal to position Togo as a regional hub, and supports efforts towards a lower carbon economy in Togo,” said Kyle Kelhofer, IFC’s Senior Country Manager for Togo.
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