Index to Nigerian Newspapers

FG eyes $1bn W’Bank loans for IDPs, agric

The Federal Government is in talks with the World Bank to obtain over $1bn loans to address the challenges faced by Internally Displaced Persons (IDPs) and their host communities, as well as bolster rural access and agricultural marketing in Nigeria. The IDP loan is estimated at $500m, while the rural access and agricultural marketing project loan is estimated at $550m. The World Bank documents indicate that some of the loans addressed by the global bank have been initiated under the previous administration of President Muhammadu Buhari. The IDP initiative aims to improve access to resilient and inclusive basic services and economic opportunities for IDPs and their host communities in displacement-affected local government areas in the northern part of Nigeria. The Federal Ministry of Budget and Economic Planning will act as the borrower for Nigeria, while the National Commission for Refugee Migrants and Internally Displaced Persons and the North East Development Commission are the implementing agencies.

Damilola Aina | Finance/ Economy | Punch Newspaper | Monday, March 18, 2024