A World Bank-funded Community and Social Development Agency (CSDA) in
Nigeria has disclosed that the international bank has provided about $320 million credit to assist the poor and vulnerable groups in the country. It is hoped that the latest move will stop insurgency.
According to the Task Leader Team of CSDA in Nigeria, Prof. Foluso Okunmadewa the bank late last year, also approved additional $75 million for the North-east region for resettlement of the internally displaced persons (IDPs) caused by insurgency in the region. The CSDA’s team leader said that governors in the country “have all put the structures, mechanisms in place to be able to access the funds from World Bank.”
He said that about seven years ago, a credit of $200 million was provided by the World Bank to the government of Nigeria and was used up until 2015 by 26 states including the Federal Capital Territory (FCT). And this was exhausted and the then Federal Government requested for additional financing of $140 million.
All the 26 states that were in the original project are now active in this new additional financing of $140 million and they have established agencies and are moving into the communities to do all the micro projects that the communities have put forward.
$75 million was approved by the World Bank and Federal executive council and was provided late last year. The money is really dedicated to the North-east and it will free more resources for the $140 million for the other states.
This project, according to Okunmadewa, is one of the flagship projects of the World Bank in Nigeria. It is one of the projects that have achieved a lot of results and it has helped development in rural areas for poor and vulnerable groups in the country in the last couple of years.”
He therefore assured that the agency would not relent in its efforts at adding values to the socio-wellbeing of the populace.
Edited by : Jude Chukwuemeka
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