{"id":163795,"date":"2022-03-18T13:51:38","date_gmt":"2022-03-18T12:51:38","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=163795"},"modified":"2022-03-18T13:51:38","modified_gmt":"2022-03-18T12:51:38","slug":"afdb-secures-15-6bn-for-lagos-abidjan-road-project","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/03\/18\/afdb-secures-15-6bn-for-lagos-abidjan-road-project\/","title":{"rendered":"AfDB secures $15.6bn for Lagos-Abidjan road project"},"content":{"rendered":"<p>African Development Bank (AfDB) has stated that it has secured $15.6 billion for the construction of the Lagos-Abidjan highway corridor to ease transportation across West Africa.<\/p>\n<p>This was disclosed on Thursday by\u00a0<span class=\"s2\">Akinwumi Adesina, president of the AfDB during the 2021 Africa Investment Forum virtual boardroom closing session.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">In April 2020, the Bank had approved funding of $13.67 billion for the Lagos-Abidjan highway corridor project.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">The road corridor links cities across five West African countries, namely C\u00f4te d\u2019Ivoire, Ghana, Togo, Benin, and Nigeria.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">Adesina said the project would go a long way to support trade in West Africa and reduce transport costs and increase intra-regional trade volume.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cThe biggest deal for the boardroom is the $15.6bn deal for the Lagos-Abidjan highway corridor. The 46-lane highway corridor will connect\u00a0Lagos, Cotonou, Lome, Accra, and Abidjan,\u201d he said.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cIt will support 75 percent of the trade in the West African region. The project will impact the lives of over 500 million people. It would reduce transport costs by 48 percent. It would increase intra-regional trade volume by 15 to 25 percent. It would connect land-locked cities to port countries.\u201d\u00a0<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">The <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/02\/24\/afdb-president-speaks-on-restructuring-says-each-state-should-control-its-resources\/\">AfDB<\/a> president further added that the Affirmative Finance Action for Women in Africa (AFAWA) has been critical in supporting women\u2019s businesses.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">He explained that in 2021, the AfDB provided $450 million in support of women\u2019s businesses in Africa, and in 2022, the Bank expects to provide $500 million in support of women-owned businesses.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">\u201cThe AfDB will also be establishing a $1m AFAWA women advisory facility to support women with advisory services,\u201d he added.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>African Development Bank (AfDB) has stated that it has secured $15.6 billion for the construction of the Lagos-Abidjan highway corridor to ease transportation across West Africa. This was disclosed on Thursday by\u00a0Akinwumi Adesina, president of the AfDB during the 2021 Africa Investment Forum virtual boardroom closing session. In April 2020, the Bank had approved funding [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":4582,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[16587],"tags":[32877,2677,780,32878],"class_list":["post-163795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-15-6-billion","tag-afdb","tag-akinwumi-adesina","tag-lagos-abidjan-highway"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AfDB secures $15.6bn for Lagos-Abidjan road project<\/title>\n<meta name=\"description\" content=\"African Development Bank (AfDB) has stated that it has secured $15.6 billion 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