The Lagos-Abidjan Highway will become a reality; Adesina told regional leaders, as AfDB is providing $11.1 million to the ECOWAS Commission to develop the Master Plan for the highway corridor, with additional $13.5 million for feasibility studies to be completed next year. It expects construction to start in 2022.
Current initiatives include a $25 billion investment to turn Africa into a global powerhouse in food and agriculture. This includes financing special agro-industrial processing zones in northern Togo, Côte d’Ivoire, and Senegal.
During the one-day meeting, ECOWAS leaders deliberated on critical issues affecting the region, including the proposed ECO single currency regime for the sub-region and the Action Plan for Regional Security.Adesina summed up the Bank’s vision for ECOWAS: “An integrated monetary zone and financial markets; a free zone for trade, with free movement of people, capital, goods and services; an ECOWAS region whose new currency would be ECO; and the echoes of that will reverberate across the world.”