AfDB approves $124.2m loan for water sector reforms in Akure

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AFDB
African Development Bank (AfDB)

The Board of Directors of the African Development Bank (AfDB) has approved a 124.2 million dollars loan to finance the urban water sector reform and Akure water supply and sanitation projects in Nigeria.

A statement issued by the bank on Friday said that the amount includes an African Growing Together Fund (AGTF) loan of 20 million dollars.

It said that the overall project cost is 222.69 million dollars and would span through five years from 2020 to 2025.

The statement added that the project was set to address bottlenecks in critical water supply services to households in the densely populated project area.

Mr Ebrima Faal, Senior Director at the Bank’s Nigeria Regional Office, said that the project would strengthen Federal Government’s capacity to facilitate urban water supply and sanitation reforms.

“It would provide residents of Akure city in Ondo State and its environs access to safe drinking water and sanitation.

“The project will…



Source: Vanguard Newspaper