The African Development Bank (AfDB) has approved a $70 million loan for a road project in Ebonyi.
In a statement, the bank said it would provide $40 million. Its co-financier, the Africa Growing Together Fund (AGTF) would contribute $30 million.
It also said the bank group’s funding would cover the rehabilitation and asphalting of a 51-kilometre stretch between Nwezenvi and N’Doko, and part of the corridor between N’Doko and Ezzamgbo spanning 38.91kilometre.
The bank noted that the project was expected to be completed in five years. AfDB said the project would aid the agricultural state of Ebonyi’s aspiration to develop special agro-industrial zones dedicated to processing of subsistence crops.
“It will improve road safety and accessibility of farming communities and small-scale industrial areas. Some 1,400 jobs will be created during the construction phase.
“Once completed, the road network is expected to serve also as an international link between Ebonyi State and Cameroun, in addition to connecting Ebonyi to Benue and Enugu,” it said. The bank added that the project was in line with its development agenda.