AfDB Group asserts the $430 Million highway project connecting Enugu to Bamenda in Cameroon will be finished off 2021, AfDB President disclosed in at the 59th Ordinary Session of the ECOWAS Authority of Heads of States

By Abdul Rahman Bangura–

Photo Credit: The government and business journal

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone-  The AfDB in an announcement published on June 21st, 2021stated that, it was component of its enterprises in West Africa which presently breathed at $16 billion dollars.

The Bank’s President noted that, the $430 million dollars boulevard project will remake trade chances between the two nations. He also uncovered that the bank was operating tirelessly with the ECOWAS Commission to complete feasibility studies for the Abidjan Lagos corridor by the end of 2021.

“We expect construction for the corridor to commence within 24 months,’’ Adesina announced.

Adesinia said that the highway would link 85 per cent of the trade volume in ECOWAS through the corridor.

According to him, the bank’s assistance for infrastructure in the ECOWAS region has made twice as much over the past five years, improving from two billion dollars in 2015 to four billion dollars.

“While I can list several projects in every country, let me just mention a few critical regional infrastructure.

“The Senegambia Bridge is rapidly facilitating trade between Senegal and The Gambia.

“Our financing helped to double the capacity of the Lome container port in Togo, which is critical for regional transport and logistics.

“The Bamako to San Pedro corridor has helped to expand trade between Côte d’Ivoire and Mali by 34%, while reducing transit time at the border from 24 hours to just two hours.

“The 303km road linking Ouagadougou and Lome has reduced travel time from six days to just two days.

“Our 650 million dollars financing for the transport corridors linking Sierra Leone, Guinea and Liberia will impact on economic opportunities for 51 million people.

“I am pleased that this year, the bank will provide 105 million dollars financing for the road linking Guinea-Bissau and Senegal,’’ he noted.

The AfDB’s President furthered that the 20 billion dollar Desert-to-Power programme on energy would develop 10,000 MW of solar power to light up the Sahel and provide access to electricity for 250 million people.

“This project will make the Sahel the largest solar zone in the world.

“Right here in Ghana, the bank’s financing of 120 million dollar for the new terminal at Kokota International Airport is having huge impacts on regional transport and freight movements.

“With the new terminal, freight handling has expanded by 30%,’’ Adesina told.

He expanded that, the AfDB donated 4.5 million dollars for the establishment of the African Continental Free Trade Area secretariat in Accra, in a bid to promote regional trade in the continent.

In thinking back to the effects of the Novel Coronavirus (Covid-19) pandemic on the continent, the AfDB chief announced, the bank undertook a 10 billion dollars facility to support African countries pilot through the tough times masqueraded by the pestilence.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent