- The African Development Bank (AfDB) has said the continental financial institution has a loan scheme to assist member-nations to develop their roads and other infrastructure as well as capacity building, among others.
- To this end, it has encouraged the Federal Road Maintenance Agency (FERMA) to take advantage of it since it was at liberty to apply for a facility, adding that loans of between $150,000 and $180,000 were available to middle income countries.
- AfDB’s Chief Country Economist, Zerihun Alemu, who stated these during a courtesy call on the FERMA management in Abuja, told his hosts that if they had ideas that required financing, they could approach the bank.
- He said they were particular about financing the transport sector so as to open up access to the rural areas where most of the population live, stressing that they should think of a creative way of funding projects.
- Alemu also stated that the AfDP was studying the second Niger bridge.
- The Managing Director of FERMA, Gabriel Amuchi, lamented the poor attitude of many Nigerians to road maintenance and the need to fund it.
- He said while these Nigerians were willing to pay toll that is used to maintain roads while in other countries, such as international transit fee, at home they didn’t feel inclined to do so.
- Source: Thisday
AfDB Will Render Assistance To FERMA
