New funding for transport and energy in West Africa
21 September 2010
The Regional Fund for Development and Financing for the transport and energy sectors, known as FODETE-CEDEAO, was officially born last Saturday at Yamoussoukro, Ivory Coast.
A ceremony was organized for the occasion, in the presence of the Ivorian president Laurent Gbagbo, during which a call for tenders was launched for the production of a feasibility study, reports the site Abidjan.net.
The fund, which has received the support of the African Development Bank, should see the light of day in 2011.
Its mission will be to finance development projects in the domain of transport and energy infrastructures in West Africa, in order to stimulate development and economic growth.
The road network in the Ivory Coast is often poorly maintained once roads have been built. This is why the government has launched PUIUR (Projet d’Urgence d’Infrastructures Urbaines), or Emergency Urban Infrastructure Project, financed by the World Bank, which will work on renovating and maintaining the network. The fund will enable projects of this type to multiply.