Nigeria Gets $210M Loan From AFDB To Finance AIPZ Program

Nigeria Gets $210M Loan From AFDB To Finance AIPZ Program

According to the African Development Bank (AFDB), theyhave approved $210M Loan for Nigeria To Finance AIPZ Program. Read details below

African Development Bank yesterday approved a $210million loan to Nigeria. The loan will co-finance Phase of Nigeria Special Agro-Industrial Processing Zone Program.

The program will support FG's efforts to raise agricultural productivity, promote investment, create wealth & jobs, & transform rural areas into corridors of economic prosperity.

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Phase 1 of the project will target 7 states & FCT. The program is expected to promote industrialization through the development of strategic crops and livestock:

1) Cross River State - cocoa, rice and cassava

2) Federal Capital Territory - beef and dairy livestock

3) Imo State — beef and dairy livestock

4) Kaduna State - tomato, maize and ginger

5) Kano State — rice, tomato, groundnuts and sesame oil

6) Kwara State — livestock

Ogun State — cassava, rice, poultry and fisheries

7) Oyo State — cassava, soybean, rice.

To read full update regarding this loan, visit the AFDB website

AfDB's Special Agro-Industrial Processing Zones will help revive rural economies, boost food and agric business investments, turn many rural areas from zones of economic misery to economic prosperity.