Barely 11 weeks after the board of directors of the World Bank decided to allocate US$ 470M for the implementation of the Lomé-Ouagadougou-Niamey road corridor project, a first agreement which will see the reimbursement of US$ 256M out of the US$ 470M agreed upon, has been inked.
The said agreement was signed by Lassané Kaboré, the Minister of the Economy in Burkina Faso, and Maimouna Mbow Fam, the resident representative of the World Bank in the West African country.
The grant will be released by the International Development Association (IDA), an international financial institution and a member of the World Bank that offers concessional loans and grants to the world’s poorest developing countries.
Scope of the Lomé-Ouagadougou-Niamey road corridor project
Scheduled for implementation over a period of 6 years, the Lomé-Ouagadougou-Niamey road corridor project not only entails the construction of the 1,065-kilometer-long road traversing through Lome in Togo, Ouagadougou in Burkina Faso, and Niamey in Niger, but also assistance in improving customs procedures, the transport data management system and the professionalization of transport players.
A social component is also planned as part of the project with the rehabilitation of health centers, schools, and associated infrastructure.
Expectations for the project
The World Bank estimates that upon completion the project will strengthen road safety, reduce freight travel time from the port of Lomé to Niamey by 25%, and decrease the passage of border trucks between Togo and Burkina Faso by 62% and by 54% between Burkina Faso and Niger.
Furthermore, the bank says that the project will generate strong and inclusive growth in local communities, which will resolve gender disparities and benefit millions of people. The percentage of women among certified professionals in the truck transport and logistics industry is expected to increase from 0 to 15%.
Source: Construction Review Online