S&P Global Ratings assesses Togo's Sustainable Financing Framework as aligned with Social Bond Principles, ICMA, 2023; Social Loan Principles, LMA/LSTA/APLMA, 2023; Green Bond Principles, ICMA, 2021 (with June 2022 Appendix 1); Green Loan Principles, LMA/LSTA/APLMA, 2023; and Sustainability Bond Guidelines ICMA, 2021. Togo is a West African country along the Gulf of Guinea, covering 56,785 square kilometers with a population of approximately 8.5 million. Its economy is primarily based on agriculture and the export of natural resources.