The African Development Bank (AfDB) has approved a $70 million loan for the construction of Ebonyi State road in Nigeria.
AfDB will provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), will contribute $30 million.
The Islamic Development Bank is also providing Nigeria a loan of $80 million, while the Ebonyi State Government will provide $17.60 million, for a total project cost of $167.60 million.
AfDB said the funding for the road, which is expected to be completed in five years, will cover the rehabilitation and asphalting of a 51 km stretch between Nwezenvi and N’Doko, and part of the corridor between N’Doko and Ezzamgbo spanning 38.91 km.
The project will aid the agricultural State of Ebonyi’s aspiration to develop special agro-industrial zones dedicated to the processing of subsistence crops.
It will also improve road safety and accessibility of farming communities and small-scale industrial areas. Some 1,400 jobs will be created during the construction phase.
The road which will cover a total 177.81 km, is expected to serve as an international link between the State of Ebonyi and the country’s eastern neighbour, Cameroun, in addition to connecting Ebonyi to Benue and Enugu.
In line with its High 5s priorities, the project attests to the African Development Bank’s commitment to improving the quality of life of Africans by improving accessibility and road safety in its member countries.