The Director-General of African Development Bank’s Nigeria Country Department, Lamin Barrow, has said the bank and its development partners are mobilising $520m to co-finance the first phase of Special Agro-industrial Processing Zones in Nigeria.
According to a statement by the bank on Wednesday, Barrow, who spoke at a high-level briefing session held on Monday, noted that the zones would be rolled out in 18 African countries, including Nigeria.
The statement was titled ‘Federal and state governors endorse Special Agro-industrial Processing Zones Programme: African Development Bank and partners to mobilise $520m for Phase 1’.
“The bank and its development partners are mobilising $520m to co-finance the first phase of the programme in Nigeria, be implemented in phases across six geopolitical zones,” Barrow said.
The statement said representatives of the AfDB, the International Fund for Agricultural Development and the Islamic Development Bank, provided progress updates on the scheme, following their consultations with key stakeholders within the public and private sectors.
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