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IDB Approves $29.75m To Facilitate Nigeria-Morocco Gas Pipeline



The Islamic Development Bank (IDB) has approved a budget of $29.75 million for the financing of a study project for the second phase of the technical preliminary design of the Morocco-Nigeria gas pipeline.

The project will enable some West African states to replace costly oil-fired power generation with renewable power generation and gas-fired power generation, the IDB said.

This support is part of the $ 1.6 billion financing approved by the Bank, which includes 24 new development projects in 19 member states, Africa, Asia and Europe, the bank said.

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The approved projects cover development sectors including road construction and high speed transport, clean and renewable energy, poultry, fisheries, irrigation and agriculture, child feeding, university education and technical as well as vocational training.

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