Lagos - Nigeria and 24 other countries in the West and Central African region plan to jointly contribute $1.7billion to strengthen the fight against piracy.
The decision by these countries to pool resources together to combat piracy was taken at the Maritime Organization of West Africa and Central Africa (MOWCA) meeting held at its headquarters in Abidjan, reports New Telegraph
To facilitate the utilization of the fund ,the countries have launched Information and Communication (INFOCOM) centers and database for the networking of maritime administrations in their respective countries.
The fund will be managed by MOWCA and made available to member states in the form of repayable loans from maritime fund.
Read more at New Telegraph
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