Fidelity bank banner Camano banner
FEC approves $250m soft loan to 14 million Nigerians

By News Express on 04/05/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 909

•The Federal Executive Council during a recent session.
•The Federal Executive Council during a recent session.

The Federal Executive Council has approved a US$150 million soft loan from African Development Bank (AfDB) and US$100 million from African Development Finance (ADF) for Rural Water Supply and Sanitation Initiative (RWSSI) as well as a Grant of five million Euro to finance Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Programme in five states of the North East.

A statement issued by Salisu Saleh Na’inna, spokesman of the Ministry of Finance, said: “The approval followed a memo presented to the Council by the Minister of Finance, Kemi Adeosun”.

Adeosun had explained that the money would facilitate in improving the quality of life of 14 million people and over 2.3 million internally displaced persons affected by the Boko Haram insurgency by increasing their access to basic social services in the areas of potable water supply, sanitation, health care delivery and education.

Other areas covered by the programme are entrepreneurship development, job creation and livelihoods for youth, women and the vulnerable, social cohesion and physiological support.

It could be recalled that in its social inclusion agenda, the Federal Government has launched a programme for rebuilding and reconstruction for peace and development in the North East, and sought support from the African Development Bank to achieve the goal.

The multi-sectoral programme will be implemented in Adamawa, Borno, Gombe, Bauchi and Taraba states within a span of five years starting from 2017 to December 2021, while Yobe State has already started implementing a similar programme.

The loan would be repayable in 25 years with on a highly concessional interest rate.  The five beneficiary states will make a counterpart funding of 6.1 per cent. (TV360 Nigeria)

Source News Express

Posted 04/05/2017 5:12:14 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Senate condemns jungle justice, calls on police to...

Akwa Ibom lawmakers threaten to sue DSS over...

Ojuelegba tragedy: Court remands truck owner in prison...

Enugu Assembly amends schools transfer law

Militants kill 2 policemen, cart away gunboats, arms...

Army recalls over 3,000 soldiers sacked in connection...

Nigeria protests violation of Embassy by U.S. Secret...

Rangers FC coach says Nigeria Premier League has...

Boko Haram kills 3 soldiers, injures 6 in...

FG to buy 20 aircraft for aviation college...

Uber launches safety features to protect drivers

Hajj Commission warns against patronage of unlicensed tour...

 

Latest News Ohanaeze set to host Afenifere, Arewa, PANDEF at Igbo Day celebration 2019 elections: APC, PDP disagree over readiness Ndume begs colleagues not to boycott 2019 Budget presentation Temple food kills two children, 9 others PDP rejects INEC plan to create poling centres in IDP camps Kaduna APC Primary: Aspirant alleges threat to life Umahi sacks Ebonyi Broadcasting Corporation Board Chairman Insurgency: Buhari, other Lake Chad Basin leaders meet in Abuja Development partners facilitate science-policy interaction in West Africa Tragedy hits Nigerian football as star defender Dominic Dukku slumps and dies before match Okowa mourns Delta CJ’s wife, urges Nigerians to live impactful life Defence Minister charges War College participants to remain apolitical

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (430,480 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (395,225 views) Shameless Genevieve Nnaji exposes breasts in public (328,081 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (282,068 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (248,128 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,416 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,338 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,513 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,957 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,664 views) Lagos plane crash: Journalist releases victims’ names (167,395 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,857 views)

 

CBN banner Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,883) Business Verdict (54) Columnists (974) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (313) International (2,830) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (74) News (41,462) Opinion (1,153) Pidgin (13) Politics (8,183) Religion (916) Sports (1,822) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera