By Peter Okutu
ABAKALIKI—GOVERNOR David Umahi of Ebonyi State yesterday commended the federal government for approving $150million loan for the construction of the Ring Road that cuts across eight local government areas of the state.
The 160km road project has intercessions with trans-saharan highway as the state government had taken efforts to secure financiers for the laudable project.
The governor made the commendation when a team of African Development Bank, ADB and Islamic Bank, IB, paid him a courtesy call at the Government House, Abakaliki.Umahi
According to the governor, when the project is completed, the roads will boost the economy of the state even as he stated that the state government would in few days time approach the State House of Assembly for the approval of the loan.
The representative of the financial institutions embarked on the assessment of social and economic viability of Ebonyi state ring road project estimated to cost $150 million.
Leader of the team from ADB, Mr. Patrick Musa said that apart from the viability of the project, they were also in the state to access institutional arrangement and the capacity of security agencies geared towards the fulfilment of the project.
A representative of the federal ministry of finance, Mr. Timothy Komolafe said what would have been a hurdle for the state government has been surmounted following the approval of the project by the National Assembly.