The integrative nature of the Abidjan – Lagos Corridor Highway project is expected to impact on the West African sub-region especially its significance in the realisation of the African Continental Free Trade Area.
The Abidjan-Lagos Road Corridor Project is being implemented not only as a road project but as an integrated “development corridor” which will also catalyze the deployment of other important sectors such as industry, agriculture, energy, environment, ICT, tourism in the region, thus becoming an economic corridor to boost the growth of the Region.
This flagship project preliminary estimated at US$15.1 billion, lies at the heart of the ECOWAS Vision 2050 and the 4 x 4 strategic objectives of the ECOWAS Commission Management.
Considering the resource implications on the project for a more feasible and successful execution, the Economic Community of West African States (ECOWAS), the African Development Bank (AfDB) and the Development Financial Institutions (DFI), consulted on the financing of the Construction of the Abidjan – Lagos Corridor Highway.
The 1st round table of development partners and major regional and international DFIs on the financing of the Construction of the Abidjan – Lagos Corridor Highway held on Tuesday September 26, 2023, in Abidjan, Côte d’Ivoire under the auspices of the ECOWAS Commission, AfDB and the ECOWAS Bank for Investment and Development (EBID).
During deliberations, Deputy Director of Cabinet, Mr. Stéphane Ezoa, on behalf of the Minister of Equipment and Maintenance of Roads for Cote d’Ivoire, Dr. Amédé Koffi Kouakou, stressed that the authorities of his country attach great importance to the highway and are committed to work with the other corridor countries and ECOWAS to achieve the great vision of the Presidents of the 5 member states involved.
Commissioner for Infrastructure, Energy and Digitization of the ECOWAS Commission, Mr. Sediko Douka, who lead the ECOWAS delegation, comprising Mr. Mambury Njie, Advisor for Economic and Financial Integration to the President of the ECOWAS Commission and Mr. Chris Appiah, Acting Director of Transport of ECOWAS, said the ECOWAS Commission, the AfDB and the Member States along the corridor call on all public and private investors to join in realizing the vision that will sustainably transform the economic landscape of our region.
For the African Development Bank, Mr. Joseph Ribeiro, Deputy Director General, West Africa, representing Mrs. Marie-Laure Akin-Olugbade, Vice-President, Regional Development, Integration and Service Delivery, stressed on the integrative nature of the project and it’s significance in the realisation of the continental free trade area.
Dr. Mabouba Diagne, Vice-President Finance and Corporate Services at the ECOWAS Bank for Investment and Development (BIDC), said the strong mobilization of IFDs and Donors at this 1st round table, marks an important signal of the investor appetite for the construction of the Abidjan-Lagos Highway.
The Roundtable was marked by a very detailed presentation of the highway project covering the objectives, key investment elements, findings from the feasibility and Preliminary design studies, other technical details and the structure of the Corridor Management Authority, “ALCOMA” mandated to construct, manage and operate the highway on behalf of the five countries.