Nigerian government backs West Africa sea link project - report.

By bne IntelliNews August 18, 2011
The Nigerian government is facilitating the establishment of a USD 60mn sea link project to ease marine transportation in West Africa, the BusinessDay newspaper reported. The authorities are engaged in the project via the Nigerian Exim-Import (NEXIM) Bank, the newspaper said. The Economic Community of West African States (ECOWAS) Commission has also expressed full support for the project. According to the report, it is expected that 60% of the funding will be provided by the private sector operators in member countries of the region as equity, while the remaining 40% would come from institutional investors. The sea-link company is planned to commence operations by November, Tidiane Traore, a USAID sub-contractor, was quoted as saying.

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