Business
AfDB Spends $530m On Projects In Nigeria
The African Develop
ment Bank (AfDB) has said that it has committed about 530 million dollars (N86.9 billion) to water and sanitation projects in Nigeira from 2013 up till date.
A statement from the Bank’s Country Director, Dr Ousmane Dore which was made available to The Tide revealed that the amount include the approval for provision of portable water supply and sanitation programmes for 2014 and ongoing projects from the 2013.
The statement explained that 205 million dollars (N33.6billion) was approved in the first half of 2014 for the Port Harcourt rural water supply project.
Also, 150 million dollars (N4.6 billion) was approved for the ongoing urban water projects in Akwa Ibom and Taraba States, while 75 million dollars (12.3 billion) was approved for the rural water supply and sanitation projects in Yobe and Osun states, as well as 100 million dollars (16.4 billion) which went for urban water supply and sanitation projects in Zaria which are ongoing, the statement explained.
“For this year, in the water sector, the bank approved 205 million dollars for water and sanitation projects and the main project is the Port Harcourt Urban Water Supply project which was approved by the board in March.
“Other water projects that are ongoing in the country include 150 million dollars urban water projects ongoing in Uyo and Taraba and 75 million dollars for Yobe and Osun states,” the statement explained.
The bank in the statement expressed determination to support the Agricultural Transformation Agenda of the Government, the Lake Chad Basin Support Project and the proposed establishment of the Development Bank of Nigeria (DBN).
According to the statement, AfDB is partnering Nigeira to establish DBN, a whole sale development finance institution.
Corlins Walter