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From Isaac Anumihe, Abuja
African Development Bank (AfDB) has made available another €3.5 million for the feasibility study of 1,028- kilometre road project of Abidjan – Lagos Corridor.
Chief Transport Economist, African Development Bank (AfDB) and Task Manager Abidjan-Lagos Corridor, Lydia Adam, who announced this also said that the new addition was being finalised to ensure that the study was smooth.
AfDB gave the charge at the 16th Ministerial Steering Committee meeting on Abidjan – Lagos Corridor Development headed by the Nigerian Minister of Works and Housing, Babatunde Fashiola in Abuja.
The Abidjan – Lagos strategic economic project for the West African States runs through Nigeria, Togo, Cote D’Ivoire, Ghana and Benin.
“Today, I am pleased to confirm the signing of an amendment to the financing agreement between the bank and the European Union making available an additional grant of 3.5 million euros for the study. The agreement for the on-lending of this additional grant by the bank to ECOWAS is currently being finalised.
“Thus, in addition to its substantial contribution of US$ 25 million, the bank will have mobilised €12.63 million in the form of a grant from the European Union, bringing the total amount available for the financing of this highly strategic study to the equivalent of about US$ 41 million.”she said
Minister of Works and Housing and Chairman of the partnering states said the completion earlier slated for 2021, was delayed due to the impact of 2020 COVID-19 pandemic that stalled global activities.
He said while it was expedient for the job to be done quickly, it was critical to ensure that nothing should be sacrificed for quality of the job that would serve over 40 million Africans in each of these countries.
