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Otti: AfDB Approves $115m Loan To Abia For Road Rehabilitation, Erosion
EKO HOT BLOG reports that the Board of Directors, African Development Bank (AfDB), has approved a loan of 115 million dollars to support a major road rehabilitation project in Abia State, Nigeria.
According to a report by the News Agency of Nigeria (NAN), this is contained in a statement issued by the Nigeria Country Department of the bank on Saturday in Abuja.
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It said the project would see to the rehabilitation of roads, erosion control infrastructure and preparation of solid waste management facilities in the state capital, Umuahia, and the commercial hub, Aba.
“Financing for the project estimated at a total cost of 263.80 million dollars, will come through an AfDB loan of 100 million dollars.
“A Canada–AfDB Climate Fund (CACF) loan of 15 million dollars; and a 125 million dollars co-financing loan from the Islamic Development Bank (IDB).
“The Abia State government will provide 23.80 million dollars in counterpart funding for compensation to people affected by the project and implementation of a Resettlement Action Plan,”it said.
According to the statement, the project, which is expected to be completed in 2029, has a total of 248.46 km of road.
It said it had 58.03 km of roads in Umuahia and 190.43 km of roads in Aba which would be rehabilitated to asphaltic concrete standards at varying cross sections.
It said :” Erosion sites in Umuahia and Aba will be reinstated as well as preparatory studies undertaken for private sector participation in solid waste management for the two cities.
“The project will also include capacity building, project management and development of social infrastructure.
“This includes the rehabilitation of schools and the provision of sanitation facilities in schools, community markets and hospitals.”
It said with an estimated population of 553,000 and 814,000 respectively (2022 estimates), Umuahia and Aba, the commercial hub, were currently facing serious infrastructure challenges.
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The statement said this aroused from decades of underinvestment amid rapid urbanisation and the situation was aggravated by gully erosion and emergence of huge piles of solid waste on the roads.
It said when completed, the 1.37 million population in these two cities would benefit from reduced travel time, vehicle operating costs and lower transport cost.
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