REPORTER: PEACE AGBO
Abia state government says it is ready to strengthening ties with the African Development Bank AfDB and its partners to ensure the success of second Tranche Special Agro-Industrial Processing Zones (SAPZ)
Governor Alex Otti gave the assurance when he received the AfDB pre-appraisal mission team led by Mr Bernard Onzima in his office at Nvosi Isialangwa South LGA.
Governor Otti pledged that the state would provide counterpart fund and complementary infrastructure such as access roads and electricity to guarantee the success of the project.
The Governor assured the team who are inspecting the proposed agro-industrial hub in Ukwa West, the State also assured them of several other viable agricultural locations in Ukwa East as well as vast expanses of arable land across Ikwuano, Umuahia, Bende and Arochukwu.
Earlier, the leader of the AfDB delegation, Mr Bernard Onzima, said that the team was in Abia on a pre-appraisal mission for Phase 2 of the SAPZ Programme, an initiative designed to address downstream agro-processing challenges and de-risk private investment in agriculture across Africa.
Mr Onzima explained that the SAPZ initiative, currently valued at over $1.2 billion across participating countries, adopts a multi-tranche financing model due to funding headroom constraints.
According to him, SAPZ Programme is one of the AfDB’s largest engagements in Nigeria’s agriculture designed to transform agriculture from subsistence farming into industrialised, value-added agribusiness, with the goals of improving food security, creating jobs and reducing food import dependence.
Correspondent Peace Agbo reports that the AfDB SAPZ programme Tranche 2 will target Eight States with a $200 million AfDB facility, alongside an expected $150 million co-financing package from the Islamic Development Bank.
