The African Development Bank (AfDB) has approved a $124.2 million loan to finance the Urban Water Sector Reform and Akure Water Supply and Sanitation Project in Nigeria.
The amount includes an African Growing Together Fund (AGTF) loan of $20 million.
On completion, the project will benefit the 1.3 million residents of Akure City and vicinities.
According to the institution, the overall project cost is $222.69 million and will span five years from 2020-2025.
“It would provide residents of Akure city and its environs, access to safe drinking water and sanitation.
“Involving these communities in the public awareness and marketing activities, will increase the project’s ownership and ensure they pay for the water supply and sanitation services,” said Ebrima Faal, Senior Director at the Bank’s Nigeria Regional Office.
The loan will also help to install sanitation infrastructure for schools, hospitals, markets.
At the Federal level, the project’s Urban Water Reform component will establish a water and sanitation investment program that would contribute to scaling up of the National WASH Action plan 2018-2030.
The project, which combines ‘hard’ water, sanitation and environmental protection infrastructure with ‘soft’ analytical and institutional reform support, aligns with the Bank’s Ten-Year Strategy (TYS) and its High 5s priority areas, the Integrated Water Resources Management (IWRM) Policy.