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FG seeks IDB support for economic recovery plan

Kemi Adeosun

The Federal Government on Thursday called on the Islamic Development Bank to provide funding support for the implementation of the country’s Economic Recovery and Growth Plan.

The Permanent Secretary, Federal Ministry of Finance, Dr. Mahmoud Isa-Dutse, stated this at the 42nd annual meeting of the bank in Jeddah, Saudi Arabia.

The ERGP is the government’s blueprint to take the economy out of recession and ensure inclusive growth and sustainable development.

Isa-Dutse, while making a presentation as Nigeria’s Governor on the Board of the IDB, called for more intervention from the bank in the area of infrastructure in order to stimulate economic recovery and reduce the level of poverty in the country.

He said, “We want the Islamic Development Bank to be more visible and deliver signature infrastructure projects in Nigeria. We appreciate its intervention in the water supply, health and education sectors in a number of our states, but we want the IDB to do more.

“Also, given the IDB’s unique role as Islamic bank with multiplicity of intervention instruments not available to traditional development banks, we expect the IDB to be bold and work collaboratively with other development banks to ensure overall complementarity in all development interventions in Nigeria.”

A statement from the Director of Information in the ministry, Salisu Dambatta, stated that Isa-Dutse said that the IDB was currently implementing some projects in some states through soft loans.

He gave some of them as the $65m Ilesha water supply and sanitation project in Osun State, a $43m 300-bed hospital project in Kaduna State, and the $7m Zaria water supply expansion project.

The permanent secretary said that discussions were ongoing with the bank to conclude, sign and implement several other programmes that would be beneficial to Nigeria, such as the $98m bilingual education project, which will provide almajiris access to basic education and vocational skills in Osun, Nasarawa, Niger, Kwara and Kano states.


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