The World Bank has approved a $19.5 million loan to increase transport access in Niger’s vast rural areas.
The loan, which was approved by the Bank’s Board of Executive Directors last week, has a maturity period of 40 years and a grace period of ten years for paying back.
According to the World Bank, the additional credit will finance the cost overruns for maintenance and rehabilitation of unpaved roads that have arisen due to higher than expected road works costs.
The credit will also scale up some activities of the main transport sector players to enhance the project’s development impact and effectiveness.
“Boosting access to transport in rural areas, investing in road maintenance and management are key priorities of our work in Niger,” said Supee Teravaninthorn, World Bank Sector Manager for Transport in the Africa Region.
The World Bank indicated that the financing aims to improve physical access of the rural population to vibrant markets and services on selected unpaved sections of Niger’s national road network.