AfDB Sign U.S.D59.5 Million Road Project Loan and Grant Agreements

22 October 2009
Content from a Premium Partner
African Development Bank (Abidjan)
press release

Tunis, Tunisia — The two loans and one grant agreements were signed by the Bank Group's Director in charge of infrastructure operations, Gilbert Mbesherubusa, on behalf of Operations Vice President, Bobby Pittman, and Malawi's ambassador to Egypt, Geoffrey Mvula, at a ceremony attended by the Advisor to the Executive Director for Malawi, Hibeene Mwiinga and senior Bank staff.

The funding comprises a UA 14.32 Nacala Road Corridor (Lilongwe By-pass Road), and a UA 22.98 million for Blantyre-Zomba Road Rehabilitation Project as well as a UA 1.0167 million grant for feasibility and detailed engineering design of the Ntcheu-Tsangano-Neno-Mwanza Road.

Speaking at the ceremony, Mr. Mbesherubusa emphasized the project's importance and urged the Government to expedite action to ensure its effective commencement, assuring that the Bank would work closely with the Government to ensure successful implementation of the projects.

"The rehabilitation of the Blantyre-Zomba Road will provide development stimulus through increased economic activities due to reduction in cost of transport, travel time and improved road safety, ultimately resulting in better living conditions for the communities in the zone of influence of the road" Mr. Mbesherubusa said.

The second road project - the 13 km Lilongwe By-pass Road which is part of the Nacala Road Corridor stretching from Malawi through Mozambique to Zambia - would relieve the heavy traffic congestion in Lilongwe and reduce accidents, he added.

The third agreement concerns studies for the Ntcheu-Tsangano-Neno-Mwanza road which will determine the most cost effective option for upgrading the road in south-western Malawi, renowned for its agricultural potential.

For his part, Ambassador Geoffrey Mvula commended the Bank for its continued support towards the country's development, and pledged the government's commitment to utilize the funds for the intended purposes.

"Government does not take this kind gesture for granted," he emphasized, adding; "It is my ardent hope that the Bank will continue to provide assistance to Malawi and the region for the benefit of its people.

The Funding brings the Bank Group's total commitments in Malawi to UA 631 million in 87 operations, comprising 74 projects, 11 studies and two lines of credit.

* I UA (Units of Account) = US$ 1.56606 on 21/10/2009

Contacts

Felix Njoku

Read the original article on African Development Bank (AfDB).

Tagged:
Copyright © 2009 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.