Chief Transport Economist of the African Development Bank (AfDB), Lydie Ehouman, says the bank has secured an agreement for an additional €3.5 million for the Abidjan- Lagos highway project.
This, according to Ehrman, brings the total amount available for the financing of the highly strategic study to US$ 41 million.
The Economic Community of West African States, ECOWAS project is aimed at creating a corridor of roads linking five countries in the region. The countries are Nigeria, Benin Republic, Côte d’Ivoire, Togo, and Ghana. The road when completed is expected to benefit 40 million commuters within the region.
She said, “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 finalized. Thus, in addition to its substantial contribution of US$ 25 million, the bank will have mobilized EUR 12.63 million in the form of a grant from the European Union.
“This brings the total amount available for the financing of this highly strategic study to the equivalent of about US$ 41 million.”
