By Richard Adorsu-
NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana- The Board of Directors of African Development Bank Group has approved grants worth about $43.46 million for the construction of a bridge to connect Cameroon and Chad across Logone river.
The grants, comprises a $22.586 million tranche for Cameroon and $20.880 million for Chad. The facility is from the Investment Facility for Africa under a framework agreement between the Bank Group and the European Commission.
According to a statement from, Kwasi Kpodo, Communication and External Relations Department, African Development Bank, funds will co-finance the costs of construction of the bridge between Yagoua in Cameroon and Bongor in Chad, access roads and feasibility studies, management said in a report to the Board.
The bridge, once completed, is expected to bolster bilateral sub-regional integration, and cross-border trade. It will also safeguard life and property during river crossing. Boost socio and cultural ties between the two countries.
Specifically, the project aims to promote interstate trade, between the countries, reduce travel time and transportation costs. They also counting on, improve accessibility of basic services, by nearby communities,” the report noted.
The Bank is committed to financing development projects that will tackle poverty through investing in critical infrastructure and promoting seamless connectivity.
For New Africa Business News Richard Adorsu Reports, Africa Correspondent
AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com