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European Union Explain Motives For Hefty African Spending

 40 Secs Read 

The European Union has exposed more reasons why it is spending heavily to co -fund the Abidjan - Lagos Highway Corridor.

According to officials of the organization, their interest in the project is to stimulate investments and strengthen the competitiveness of the territories.

The EU delegation to Nigeria and ECOWAS made this known recently in a statement on its website, and they explained their aim to encourage regional integration for growth and job creation.

According to the Head of Co - operation , EU delegation to Nigeria and ECOWAS, Kurt Cornelis, the project is in line with the aims of the cooperation between EU and Africa.

He said the European Union is contributing $ 10 . 38 m while the African Development Bank has approved a $ 12 . 6 m financing package for the project.

He explained that the development of trade and industrial production would directly benefit the local population , estimated at around 40 million people along the corridor .

The proposed Abidjan - Lagos Corridor Highway is a six - lane motorway that will connect some of the biggest and most economically dynamic cities in the continent of Africa (the likes of Abidjan , Accra , Cotonou, Lomé and Lagos ).

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