IsDB APPROVES US$86.64 MILLION FOR UPGRADING OF MINNA-BIDA ROAD
The Islamic Development Bank (IsDB), through the singular efforts of Governor Abubakar Sani Bello, has approved the disbursement of a US$86.64 Million loan to Niger State Government for the construction and upgrading of the 82-kilometer Minna-Bida road being handled by Dantata and Sawoe Company.
The Board of Executive Directors of the Bank gave the approval of the loan at its 341st meeting held on the sidelines of the IsDB Group Board of Governors’ 2021 Annual General Meeting in Tashkent, Uzbekistan.
The Board approved funds totalling US$110.14 Million for three new development projects in Infrastructure, Water and Sanitation as well as Education to be executed in Nigeria (Niger State), Guinea and Sierra Leone.
The upgrading of the Minna-Bida Road Project, which already in progress, is expected to contribute to the socioeconomic development of the state through the establishment of safe, efficient and cost-effective interconnections not only between Local Government Areas in the state but also amongst States of the Northern and South Western parts of the country.
Governor Abubakar Sani Bello, in a statement, appreciated with gratitude effort of the IsDB for the timely approval of the funds stressing that it will hasten the completion of the road project according to specifications and on schedule.
The Governor reiterated that the 82-kilometer Minna-Bida Road Project, on completion, will reduce travel time, vehicle operating costs, road maintenance cost, improved traffic flow as well as increased road safety.
Recall that the government of Governor Abubakar Sani Bello, in 2019, make bold its promise to dualize the Minna-Bida Road which had been in the worst state of disrepair for some time.
The Islamic Development Bank (IsDB) is a Multilateral Development Finance Institution established in 1975 to support the development aspirations of its member countries.