Savanes 140 9 46 Total 460 65 350 Source: Annual report of the Ministry of Agriculture, Livestock and Fisheries (MAEP) 2014. 444. Within the framework of support for the marketing of agricultural products, three operators selected through a competition were supported for pilot warrantage operations. These are: - Togo Peasant Alliance Movement (MAPTO) based in the central region for the warrantage of maize, rice, soya beans, cowpea and sorghum; - Farmers' Union of the Plateaux Region (UAR-P) based in plateaux for warrantage of soya beans, cowpea and sorghum; - Regional Union of Savannah Cereal Producers' Organizations (UROPC-S) for the Warrantage of Corn. 445. These three warrantage promoters mobilized, for the 2014-2015 farming season, a stock of 216.79 tonnes of legumes and 5,212.52 tonnes of cereals, including 5,083.50 tonnes of maize. This resulted in an overall net margin of 107,792,041 CFA francs. Going by these results, the target of 800 tonnes of maize to be submitted to the warrantage in year 3 of the project was largely exceeded. However, the small fluctuation in market prices of products hampered the performance of the 3 operations as a whole. For the specific case of maize, despite the good net margin (94,817,908 CFAF) recorded by 31 December 2014, 705 tonnes of product were still in stock. 5. Financial instruments of the sector. 446. In order to improve the supply of financial services to the stakeholders of the agricultural sector and to ensure a better economic and social scope for the initiatives, a certain number of financial instruments were put in place to support the projects to the tune of 70% of their overall cost. These are:  the competitive fund for productive sub-projects: the fund has two counters (small and big sub-projects with a subsidy ceiling of 25 and 50 million CFA francs respectively). Specific procedures are submissions by sub-projects.  the Togolese agricultural products image promotion fund: this fund supports the policy of promoting agricultural products. PASA finances 50% of eligible activities up to a maximum of 25 million CFA francs per sub-project.  the warrantage development fund: It covers operations on cereals, legumes or 127

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