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AfDB Approves U.S. $256 Million to Ethiopia, Nigeria(AllAfrica Via Acquire Media NewsEdge) The Board of Directors of the African Development Bank Group (AfDB) approved a combined 256 million USD for the financing of investments in Nigeria and Ethiopia as well as a multinational projects preparation facility, an AfDB release said. The Board approved a 91.10 million USD loan and a technical support grant of 10.06 million USD from the Rural Water Supply and Sanitation Initiative (RWSSI) Trust Fund to finance Ethiopia's mega water, sanitation and hygiene program, one of the biggest of such projects in the world. The One Water, Sanitation and Hygiene National Program (OWNP) is expected to deliver improved and sustainable water supply facilities in rural and pastoral areas, institutions and urban areas; improved sanitation facilities and better hygiene; improved WASH sector capacity for planning, budgeting, monitoring, reporting and sustaining services. The direct beneficiaries are people based in rural and pastoral areas. The program will lay emphasis on the least served majority of Ethiopians (about 83% of the population lives in rural areas). The youth and women will especially benefit from the establishment of sector-related employment opportunities. Ultimately, the OWNP is estimated to cost 2.4 billion USD. Other institutions funding the project include the UK Department for International Development (DFID), UNICEF the World Bank and the Government of Ethiopia. The Bank has also approved a 150-million USD senior loan to Lekki Port LFTZ Enterprise for the construction of a Greenfield seaport in the Lagos Free Trade Zone, 60km east of Lagos, Nigeria. The project follows a 45-year concession granted to Lekki Port LFTZ Enterprise (LPLE), the Special Purpose Vehicle, by the Nigerian Ports Authority (NPA) under a build, own, operate and transfer scheme. Source: ENA Copyright Ethiopian Radio and Television Agency. Distributed by AllAfrica Global Media (allAfrica.com). |