AfDB has Approved $80 million for the Ekiti Knowledge Zone Project.

The Africa Development Bank announced the approval of an $80 million loan to fund the Ekiti Knowledge Zone (EKZ) Project in Ekiti State, Nigeria.

The loan will cover 85% of the $94 million budgeted to undertake the project with the Ekiti State government contributing the outstanding $14 million as counterpart funding.

The Ekiti Knowledge Zone is a master planned city development project located in Ekiti State, Nigeria. The aim of this project is to create a vibrant and conducive ecosystem for innovative technology companies and startups in line with the Sustainable Development Goals of the United Nations and the four-point agenda outlined by the State Governor.

The development is expected to be rolled out in two phases. The first phase, which is currently in planning, will be located on 955.56 hectares of land between Ado-Ekiti to Ijan Ekiti and Ise Ekiti.

Read more at Nairametrics

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