African Development Bank Grant Application Form 2020 [APPLY HERE]

Filed in Business by on May 12, 2020 0 Comments

African Development Bank Grant Form 2020 – The Board of Directors of the African Development Bank Group has approved grants worth €40.94 million for the construction of a bridge to connect Cameroon and Chad across the Logone river.

African Development Bank Grant Form 2020

The African Development Bank Grant Form 2020, comprising a €20.785 million tranche for Cameroon and €19.215 million for Chad, were approved on 30 April 2020. The facility is from the Investment Facility for Africa under a framework agreement between the Bank Group and the European Commission.

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The funds will co-finance the costs of construction of the bridge between Yagoua in Cameroon and Bongor in Chad, access roads and feasibility studies, management said in a report to the Board.

The bridge, once completed,  is expected to bolster bilateral and sub-regional integration and cross-border trade, safeguard life and property during the river crossing  and boost socio-cultural ties between the two countries.

“Specifically, the project aims to promote interstate trade, particularly between Cameroon and Chad, reduce travel time and transportation costs, and improve accessibility of basic services by nearby communities,” the report noted.

In addition to the Logone river bridge, other projects under the Pillar Assessed Grant or Delegation Agreement (PAGODA) include the rehabilitation of the Lome-Cotonou road, road development and transport facilitation on the Bamako-San Pedro corridor between Mali and Côte d’Ivoire and the rehabilitation of the CU2a community road section in Burkina Faso near the border with Niger.

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The African Development Bank Grant Form 2020 and the European Commission are committed to co-financing development projects that tackle poverty by investing in critical infrastructure to promote seamless connectivity of transport, energy and ICT.

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