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FG Secures $140m Development Loan From World Bank

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The World Bank has indicated its readiness to commence the disbursement of $140m loan to about 26 States and the FCT under its assisted Community and Social Development Project .

The bank, in a statement issued in Abuja, said about $200m (N39.4bn) had been paid under the first phase of the project, thus bringing the total amount provided under the programme to $340m (N66.98bn)

Anambra, Kaduna and Sokoto states, it added, are also set to partake in the additional financing.
The statement said the additional financing was expected to fund micro-project facilities such as rehabilitation and construction of school class rooms, health centers and clinics and skills acquisition.

It gave a list of defenseless groups that would also benefit from special grants as internally displaced poor persons, disregarded poor households, widows and the physically challenged.

The statement also quoted the World Bank Task Team Leader for the project, Foluso Okunmadewa, as saying, “This project will not only help vulnerable people in the short term, including those in conflict-affected areas, but will also help build and rebuild long-lasting partnership between local governments and communities. In addition, it will help integrate communities as well as make smart investments in people for the future.

“The first phase of the World Bank funding of the Community Social Development Project, which benefited over 5,600 communities and about two million people in 26 states.

FG Secures $140m Development Loan From World BankThe World Bank has indicated its readiness to commence the disbursement of $140m loan to about 26 States and the FCT under its assisted Community and Social Development Project .

The bank, in a statement issued in Abuja, said about $200m (N39.4bn) had been paid under the first phase of the project, thus bringing the total amount provided under the programme to $340m (N66.98bn)Anambra, Kaduna and Sokoto states, it added, are also set to partake in the additional financing.

The statement said the additional financing was expected to fund micro-project facilities such as rehabilitation and construction of school class rooms, health centers and clinics and skills acquisition.It gave a list of defenseless groups that would also benefit from special grants as internally displaced poor persons, disregarded poor households, widows and the physically challenged.The statement also quoted the World Bank Task Team Leader for the project, Foluso Okunmadewa, as saying,

“This project will not only help vulnerable people in the short term, including those in conflict-affected areas, but will also help build and rebuild long-lasting partnership between local governments and communities.

In addition, it will help integrate communities as well as make smart investments in people for the future.”The first phase of the World Bank funding of the Community Social Development Project, which benefited over 5,600 communities and about two million people in 26 states.