Modjo Dry Port Expansion Faces Hiccup in $25m World Bank Loan
Modjo Dry Port Expansion Faces Hiccup in $25m World Bank Loan
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The expansion project of a dry port facility in Modjo faces yet another setback following a deferred approval of a 25 million dollars loan request by the World Bank.
The Bank is financing the undertaking through 150 million dollar loans approved in 2017. However, the project was not commissioned to the China Civil Engineering Construction Corporation (CCECC) for over 4.7 billion Br until last July. The contractor is to receive the full payment in local currency.
