DIR Return Create A Forum - Home
       ---------------------------------------------------------
       Examwizardss
  HTML https://examwizardss.createaforum.com
       ---------------------------------------------------------
       *****************************************************
   DIR Return to: Examwizards News
       *****************************************************
       #Post#: 36--------------------------------------------------
       ECOWAS may approach BRICS to fund highway
   DIR By: Ebenezer
       Date: July 26, 2013, 7:43 pm
       ---------------------------------------------------------
       The Economic Community of West African States (ECOWAS) Steering
       Committee on the Abidjan-Lagos Corridor plans to approach
       members of the BRICS (Brazil, Russia, India, China and South
       Africa) for funding of the project.
       This follows a meeting that has been concluded in Abuja.
       The committee recommended that the BRICScountries, which
       comprises of the fastest-developing economies in the world,
       particularly China and India, should be approached with aview to
       securing the required financing.
       At least $2 billion is required for the project linking Nigeria
       and the Ivory Coast.
       The committee also recommended that a feasibility study be
       conducted prior to securing sustainable financing sources and
       contracting the services of the African Development Bank (AfDB),
       the World Bank and the African Finance Corporation (AFC) as
       financial and project set-up consultants.
       ECOWAS plans to resume construction in 2014.
       The 1 000 km- road, will account for 75 per cent of regional
       trade and impact onsome 30 million ECOWAS of the citizens.
       It will link major cities such as Lagos, Cotonou, Accra, Lomé
       and Abidjan as well as the region’s sea ports and landlocked
       countries such as Burkina Faso, Mali and Niger.
       A committee comprising Ministers of Road Infrastructure,
       Transport, Public Works, Finance and Justice of Benin, Cote
       d’Ivoire,Ghana, Nigeria and Togo is steering the project.
       *****************************************************
       Page 1 of 1