Our Correspondent
African Development Bank (AfDB), says the first phase of the Special Agro-Industrial Processing Zones in Nigeria will gulp $510 million.
AfDB will be contributing $200 million, including $50 million from Africa Growing Together Fund.
While International Fund for Agricultural Development will co-finance with $100 million, Islamic Development Bank will contribute $150 million.
The sum of $60 million will come from the Green Climate Funds.
AfDB President, Akinwumi Adesina, disclosed this during the groundbreaking ceremony of the project at Dakin Takwas village, along the Kaduna-Abuja expressway.
The project’s first phase involves eight states, including Kaduna, Kano, Katsina, Ogun, Oyo, Kwara, Cross Rivers and Imo States; and the Federal Capital Territory.
“Currently, the Special Agro-Industrial Processing Zones are under implementation in 27 sites across 11 countries.
“These include Cote d’Ivoire, Senegal, Guinea, Liberia, Madagascar, Togo, Ethiopia, Democratic Republic of Congo, Mozambique and Mali,’’ he added.
