The board of directors of the African Development Bank Group has approved $115m loan to support a major road rehabilitation project in Abia State.
The project would ensure the rehabilitation of roads, erosion control, infrastructure and preparation of solid waste management facilities in the state capital, Umuahia, and the commercial hub, Aba.
In a statement, the Director-General of the African Development Bank’s Nigeria Country Department, Lamin Barrow, said the project would build resilience by providing the towns access to urban infrastructure services, including economic and social amenities.
The statement said the financing for the project, estimated at a total cost of $263.8m would come through an African Development Bank loan of $100m; a Canada–African Development Bank Climate Fund loan of $15m; and a $125m co-financing loan from the Islamic Development Bank.