World Bank Loan: Senate Approves $266M For Niger State - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
May 29, 2019
The Senate has approved the sum of 266 milliondollar as contained in the 2016 to 2018 External Borrowing Plan of PresidentMuhammadu Buhari for Niger State Development Policy Operation.
This followed recommendation of the Senate Committeeon Local and Foreign Debts.
The loan among other things, is aimed at stimulatinginternally generated revenue.
It is also aimed at developing criticalinfrastructure that will attract private investors to the state therebyincreasing employment opportunities for residents and citizens.
Presenting the report, the Committee Chairman, ShehuSani said that the fund for DPO from the World Bank was proposed to financeimportant programmes of Niger State Government.
Sani said the committee in its finding, discoveredthat the credit facility had an attractive low financing data of 1.25 per centinterest; moratorium of five years and a 25 year maturity tenure.