$50 mln central coastal urban area given go-ahead

A central coastal urban development project was approved by the government on August 11. It consists of two components, to be implemented over four years with total investment of €42.23 million ($49.70 million), with a French Development Agency (AFD) loan of €33.8 million ($39.67 million), a non-refundable ODA loan of €1.36 million ($1.59 million), and counterpart funding of $8.3 million.