French agency spends €415.7m on transportation, others in Lagos, Kano - Rave 91.7 FM
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French agency spends €415.7m on transportation, others in Lagos, Kano

French agency spends €415.7m on transportation, others in Lagos, Kano

The Agence Française de Développement has said it spent €415.7m on transportation master plan in Lagos and urban water supply in Kano, including guarantees to Small and Medium-scale Enterprises in 2017.

The spending also covered pro-climate infrastructure at regional level and development of sustainable low emission projects in Africa, according to the 2017 AFD report.

The report, which was made available to our correspondent in Abuja on Monday, put the total commitment of the agency from 2010 in Nigeria and the Economic Community of West African States at more than €1.5bn on over 30 projects.

It stated that 1.8 million people benefitted from improved electricity service, while more than two million had access to improved water service.

The AFD explained that 2,000 kilometres of rural roads were rehabilitated, adding that it purchased 11,230 tonnes of grain to deal with food crises in West Africa.

The fight against climate change and its consequences benefited from over €4bn of financing in 2017, including €900m allocated to adaptation projects, the AFD noted.

It added that over €1bn was earmarked for renewable energies in Africa in the same period.

The development agency stated that it was increasing the volume of its financing to implement the international community’s objectives by extending its field of operations, working more closely with its partners in France, Europe and around the world.

“With €10.4bn of commitments, the AFD is continuing on its growth path to support the major transitions in developing countries. Africa continues to be the AFD’s priority, with €5.2bn of commitments in 2017,” the Chief Executive Officer, AFD, Rémy Rioux, stated.

Credits: www.punchng.com

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