AfDB and FERMA to address funding gaps with $10 billion loan facility
The African Development Bank (AfDB), through its transport sector identification mission, seeks to assist the Federal Roads Maintenance Agency (FERMA) with loan facility to address the funding gap in the road repair efforts of the Agency. This was disclosed last week when a delegation led by Dr. Abayomi Babalola a transport Specialist and Consultant to the Bank visited the Agency in Abuja. According to Dr. Babalola, the Bank has set aside a total amount of $10 billion ($10,00