Friday 28 July 2017

Outrage as David Umahi collects $70 million from Islamic Development Bank on behalf of Ebonyi State

Outrage as David Umahi collects $70 million from Islamic Development Bank on behalf of Ebonyi
It has now emerged that the governor of Ebonyi State has received a $70 million from Islamic Development Bank (co-financed by the African Development Bank (ADB). This is part of the reason the Ebonyi State governor has been against the restoration of the Biafra. 

The Nigerian Senate, yesterday, approved the loan alongside $1.806 billion Federal Government 2016-2018 external borrowing (rolling) plan for Lagos-Kano railway modernization project and reconstruction/rehabilitation of the North-East. The $70 million dollars is allegedly meant for the construction of  Ebonyi Ring Road Project 

It also approved the $750 million medium term external loan requests for six states, out of the Federal Government ’s request of $1.49 billion for 10 states. 
The breakdown of the utilisation of the $575 million World Bank loan includes $125 million for polio eradication support and routine immunisation project, $75 million for community and social development project, and $125 million for Nigeria States Health Programme Investment project. Others are $100 million for State Education Programme Investment project, $100 million for Nigeria Youth Employment and Social Support Project and $50 million for Fadama III project. 

Further breakdown of the approved loans are $200 million ADB facility for Rural Access and Mobility Project (RAMP) in Abia State, and $200 million IDB loan for Kano State Integrated Agricultural and Water Resources Development.

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