FG includes Imo in $60m loan for RAM project, The Federal Executive Council has approved that Imo State be included in the French Development Agency credit of $60 million for the scale-up of the Second Rural Access and Mobility Project (RAMP II).
The approval was based on a memo presented by the Minister of Finance, Kemi Adeosun.
The National Assembly had, in the 2010 External Borrowing Plan of the Federal Government, approved the credit facility to implement RAMP in Imo State.
Adeosun said the project, like the first phase (RAMP I), was aimed at improving transport conditions and sustaining access to the rural population through rehabilitation and maintaining key rural transport infrastructure in a sustainable manner in Imo State.
She said: “Lack of accessibility, caused by highly deteriorated transport infrastructure, is key determinant of rural poverty and low agricultural productivity.
“The project is designed around three components: Upgrading, Rehabilitation and Maintenance of Rural Transport Infrastructure; Community-based road maintenance and mechanized maintenance; and Project Management and Strengthening of Imo State road sector Institutional, Policy and Regulatory Framework.
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“RAMP II is expected to achieve an improvement in reducing cost of transportation of both passengers and goods, access to health facilities and improved income from agricultural activities in the affected communities.”