World Bank IMF and Dev Agencies | |
World Bank IMF and Dev Agencies | |
3828 VIEWS | |
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Tuesday,
February 05, 2019 02:21PM / APO |
The
proposed Abidjan-Lagos Corridor Highway, a six-lane (3-lane dual) motorway,
will connect the countries via Ghana (Accra), Togo (Lomé) and Benin (Cotonou) |
The African Development and the Economic
Community Of West African States Commission (ECOWAS) have signed an agreement
for a study into a 1,000 kilometre highway linking Cote d’Ivoire’s commercial
capital Abidjan, to Lagos in Nigeria, marking a new step in building regional
integration and trade. The proposed Abidjan-Lagos Corridor Highway, a six-lane (3-lane dual)
motorway, will connect the countries via Ghana (Accra), Togo (Lomé) and Benin
(Cotonou).The agreement signed Monday for a study on the technical,
implementation and operational aspects of the project, comes nearly five
years after the presidents of Côte d’Ivoire, Ghana, Togo, Benin and Nigeria,
signed a treaty on the establishment of the highway in March 2014. Jean Claude Brou, President of the ECOWAS Commission, Vice President of the
ECOWAS Commission Finda Koroma, the Nigerian Ministry of Power, Works and
Housing and Chairman of the Ministerial Steering Committee for the
Abidjan-Lagos Corridor Highway Development Program, Babatunde Raji Fashola,
attended the ceremony, which took place in Abuja, Nigeria. European Union
(EU) Head of Co-operation in Abuja Kurt Cornelis, together with other
relevant stakeholders, were also present at the event. The Bank has approved a financing package of US$12.6 million to finance part
of the study for project and mobilized a Euro 9.1 million grant from the EU
Commission, bringing the total financing for this important study, to US$22.7
million. By linking some of Africa’s largest and economically dynamic cities, the road
will promote cross-border trade and integrate fast-growing economies within
the ECOWAS. This is expected to contribute to reducing the poverty levels of
the population that depends on inter regional trade for livelihood. Ebrima Faal, Senior Director of the Bank’s Nigeria office noted that “the
Bank remains fully committed to the 2020 ECOWAS Vision. “We will work closely
with the public and private sectors to unlock new sources of growth for
Africa, while reducing inequality between countries and within countries.
Together, we can unlock the enormous potentials of the West African region
and deliver on the Sustainable Development Goals for the region,” Faal said. |
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