FG receives $2.1bn credit from World Bank to rebuild North East Nigeria | Welcome to Linda Ikeji's Blog

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Wednesday 22 July 2015

FG receives $2.1bn credit from World Bank to rebuild North East Nigeria

The Federal government has received a 2.1 billion credit facility from World Bank which will be used to rebuild the troubled North East zone in Nigeria. This was announced in a statement released by the Special Adviser to President Buhari on Media and Publicity, Femi Adesina, The statement below.
The World Bank has unfolded a package which would see it spending up to $2.1 billion in rebuilding the badly devastated North-eastern part of Nigeria, ravaged for the past six years by the Boko Haram insurgency.

At a meeting in Washington today with representatives of the World Bank, the Bill and Melinda Gates Foundation, and the World Health Organization (WHO), President Buhari said apart from rebuilding the region in terms of infrastructure, priority must also be given to the resettlement of internally displaced persons (IDPs), who now number over one million.

He urged the World Bank to send a team, which would work in concert with a team from the Federal Government, so that a proper assessment of needs could be done.
The World Bank will spend the 2.1 billion dollars through its IDA (International Development Agency), which gives low interest rates loans to government. The first 10 years will be interest free, while an additional 30 years will be at lower than capital market rate.

The World Bank is eager to move in quickly, give out the loans, and give succour to the people of North-east, long at the mercy of an insurgency that has claimed over 20,000 souls.
WHO is also to invest 300 million dollars on immunization against malaria in Nigeria, while the Bill and Melinda Gates Foundation will collaborate with Dangote Foundation to ensure that the country maintains its zero polio case record of the past one year. If the effort is sustained for another two years, Nigeria will be declared fully free of polio.

FEMI ADESINA
SPECIAL ADVISER, MEDIA AND PUBLICITY
JULY 21, 2015

46 comments:

Davido's driver said...

Good move

gossip girl said...

Hmmmmm!!!they done borrow money again

Unknown said...

Nigeria will be great again.

AC£S said...

If only they will make use of it.... they go loot half of that money

Anonymous said...

What is really the agenda of this Govt? bombs are still going off and you are rebuilding? where will the workers be working to rebuild it? its this kind of policies that keeps dividing the country along ethnic lines.

How come the world bank never see any need to support rebuild the ND and other regions that experienced devastation? Its very clear that Buhari requested for it.

Diary of a Naija mom said...

They should make it safe and habitable Before rebuilding.


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ary said...

And so slavery begins! Greek gift

Unknown said...

What doz dis mean???biko....so u traveld 3 USA jst 4 North-east?.......ok....we dey watch o

Anonymous said...

Northern Agenda

Unknown said...

Wow! That's just a tiny fraction of the money unaccounted for in the last administration alone. I swear I don't get it.

Unknown said...

Change is already manifesting

akinola said...

That is how they always put us in debt

Unknown said...

Congrats to my 9ja and thanks to World Banks for that offer. Nigerians are looking forward to see the manifestation of the money in the North Eastern part of the country

Unknown said...

Nice one..

NaijaDeltaBabe said...

Cool

Anonymous said...

please how are they going to pay back this amount?

Unknown said...

Okay

Unknown said...

Just pray some greedy politicians won't steal the money.

OSINANL said...

hmmm... Rebuilding northeast when boko haram is still ravaging the area.
They should end boko haram insurgency first

hocee said...

Y did dey na na put those short short chinko ekun women at d back na
......

Unknown said...

Issokay seen, all the best to them. Dey deserve to get back their homes. Linda take note!

Jasmine Joseph said...

Always borrowing, yet bros baba will say his cleaning up the mess from d past administration, meanwhile his adding to the mess

Unknown said...

a.k.a EDWIN CHINEDU AZUBUKO said..
.
One bank account all this money dey enter that na fact though.....
.
.
***CURRENTLY IN JUPITER***

Unknown said...

a.k.a EDWIN CHINEDU AZUBUKO said..
.
One bank account all this money dey enter that na fact though.....
.
.
***CURRENTLY IN JUPITER***

Unknown said...

Nice 1, all thanks 2 world bank n fed govt

jungleboi said...

Why only North East Nigeria they've been in power for Good 30yrs and no good is done to that region always bringing shame to Nigeria. Waste of resources! They don't need it. Caliphate areas shared indegenous African value and islamic political system (the law allah has revealed to guild human affairs) They implement policies within framework of sharia, They will never change. WE NEED STEADY ELECTRICITY IN EVERY REGION OF NIGERIA.

Unknown said...

Borrow borrow pple.

Anonymous said...

Northern agenda. Dat is what dey want. I can't stand this sham called nigeria

Anonymous said...

To rebuild the North-East when the destruction is still ongoing?

Unknown said...

What of Odi, Zaki-Ibiam and the villages of Plateau and Benue states?

xtr112 said...

Infrastructure - security = waste of money and time

Anonymous said...

Money to chop or money to be used properly. We dey wait

Anonymous said...

Well said

Unknown said...

Credit abi?

Mihearty said...

Taking money is not the issue but using it wisely. It's not supposed to be only north east thing but generally cos everywhere need rebuilding in nigeria

Anonymous said...

I remember when OBJ borrowed 2.8bn (or something like that) from IMF. That was the beginning of Nigeria's financial problems. He immediately put us on austerity measures and devalued our strong currency. Now this one is doing the same thing. 3 months in office, no cabinet, no minister, and he is borrowing money to rebuild a war zone currently under attack. Without any ministers who exactly did he consult? Who agreed to this? Who said we don't have $2bn of our own (including manpower and expertise) to rebuild a few mud huts and thatch houses. All those clamouring for change. Here is your change: First Nigerian to sleep in American guest house. Now he is paying $2.1bn of our sweat for the privilege.

Unknown said...

So this Administration is for Northern people only ODI egwu

Mr. Monitor said...

Rubbish!!! dem dey plant yam and cassava for bush when still dey on fire? That money is headed for embezzlement again, a lot of excuses....Na borrow borrow administration APC wan use us do self? Make we dey look na

gentle said...

This is an utterly silly move. Taking decisions up and down without any ministers to caution him. Why borrow money when the war hasn't even been won yet. In the time frame dat he'l use to defeat BH, wnt nigeria have generated that money. After all he got billions of dollars in a month from LNG sales which he used to settle states. If he gets same billions in 6 months, wnt it be much more than enough to rebuild the northeastern nigeria.

gentle said...

This is an utterly silly move. Taking decisions up and down without any ministers to caution him. Why borrow money when the war hasn't even been won yet. In the time frame dat he'l use to defeat BH, wnt nigeria have generated that money. After all he got billions of dollars in a month from LNG sales which he used to settle states. If he gets same billions in 6 months, wnt it be much more than enough to rebuild the northeastern nigeria.

Unknown said...

Yes he did and he's not trying to hide that fact. The question is, why didn't Jonathan request the same for his "people"?

Unknown said...

Can't they get such credit for each of the six geopolitical zones so that the whole country can be rebuilt?

Anonymous said...

Exactly!!! It's a puzzle!

Anonymous said...

More World Bank /IMF debts for successive naija generations to pay off even in the face of diminising foreign earnings. How about using part of the repatriated proceeds from international bank accounts, as promised by Europe and the USA, for the rebuilding efforts? Yes, a percentage from the stolen billions, stashed away by various ministers, legislooters and white collar thieves ought to be applied towards this enterprise without over-burdening the country and citizens.

Anonymous said...

Seconded. Hopefully, the BH insurgency will be tamed before any rebuilding efforts begin in the NE. Otherwise, it will be back to ground zero. If this isn't the case of a cat chasing its tail, don't know what is......this type of detrimental naija governance and policy decisions (esp about more debts and currency devaluations) over the years.

Unknown said...

Good move

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