Home Borrower Presidency lists projects and recipients of $ 4 billion loan – Nigeria – The Guardian Nigeria News – Nigeria and World News

Presidency lists projects and recipients of $ 4 billion loan – Nigeria – The Guardian Nigeria News – Nigeria and World News

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Nigeria

Fifteen projects, distributed in the six geopolitical zones of the country, are to be financed with more than 4 billion dollars from multilateral institutions, as part of the medium-term (rolling) external borrowing plan 2018-2021, announced yesterday the presidency.

President Muhammadu Buhari had asked the Senate to approve sovereign loans of $ 4.054 billion and 710 million euros, as well as grant elements of $ 125 million for the proposed projects.

According to the president’s letter, sovereign loans will come from the World Bank, the French Development Agency (AFD), China-Exim Bank, the International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chartered / China Export and Credit (SINOSURE).

The President’s request to the Senate listed 15 proposed pipeline projects, objectives, implementation period, benefiting states, as well as line ministries, departments and agencies (MDAs).

A breakdown of the addendum to proposed reserve projects for the 2018-2021 (rolling) medium-term external borrowing plan showed that the World Bank is expected to fund seven projects, including the $ 125 million grant for education services for all ”.

The Global Partnership for Education grant is expected to increase equitable access for out-of-school children and improve literacy in target states.

The grant, which will be implemented by the Federal Ministry of Education and the Commission for Universal Basic Education (UBEC), will strengthen accountability for results in basic education in Katsina, Oyo and Adamawa states. .

Other projects that will be financed by the World Bank are the State program in terms of taxation, transparency, accountability and sustainability for results, as well as the agri-food and productivity support project. , improving and improving livelihoods.

The beneficiary states of the agro-food transformation project are Kogi, Kaduna, Kano, Cross River, Enugu and Lagos, with the Federal Ministry of Agriculture and Rural Development as the executing ministry.

The objective of the project is to improve the agricultural productivity of small and medium-sized farmers and improve added value along priority value chains in the participating states.

Likewise, the World Bank is expected to finance the Nigeria Sustainable Water Supply, Sanitation and Hygiene (WASH) project in Delta, Ekiti, Gombe, Kaduna, Katsina, Imo and Plateau states for the next five years.

The project, when completed, is expected to improve rural water supply, sanitation and hygiene nationwide, with a view to achieving the Sustainable Development Goals (SDGs) for water supply. and sanitation by 2030.

Under the External Borrowing Plan, World Bank-supported projects also include Nigeria’s COVID-19 Preparedness and Response Project (COPREP), under the supervision of the Federal Ministry of Health and the Nigerian Center for disease control (NCDC).

The project, which has an implementation period of five years, will respond to threats posed by COVID-19 through the purchase of vaccines.

In addition, no less than 29 states are listed as beneficiaries of the Arid Zone Landscape Agro-Climate Resilience Project, which is expected to reduce natural resource management conflicts in Nigeria’s dry and semi-arid ecosystems.

The beneficiary states of the project co-financed by the World Bank and the European Investment Bank (EIB) are Akwa Ibom, Borno, Oyo, Sokoto, Kano, Katsina, Edo, Plateau, Abia, Nasarawa, Delta, Niger, Gombe, Imo, Enugu, Kogi, Anambra, Niger, Ebonyi, Cross River, Ondo, Kaduna, Kebbi, Jigawa, Bauchi, Ekiti, Ogun, Benue, Yobe and Kwara.

The World Bank is also funding the Livestock Productivity and Resilience project in no less than 19 states and the Federal Capital Territory (FCT).

China EXIM Bank is expected to finance the construction of the Apapa-TinCan Island Port Branch, as part of the Lagos-Ibadan Railway Modernization Project.

The French Development Agency will finance two projects, including the national digital identity management project and the Kaduna rapid bus transport project.

The digital identity project will be co-funded with the World Bank and the EIB, according to Garba Shehu, Buhari’s senior special assistant on media and advertising.

The value chain development program to be financed by IFAD and implemented in Anambra, Benue, Ebonyi, Niger, Ogun, Taraba, Nasarawa, Enugu and de Kogi will empower 100,000 farmers, including over 6,000 and 3,000 processors and traders.

The loan facility to be provided by the European ECA / KfW / IPEX / APC will be devoted to the construction of the Standard Track Rail (SGR) connecting Nigeria to the Republic of Niger of Kano-Katsina-Daura-Jibiya-Maradi with the branch to Dutse.

The specific title of the project, Kano-Maradi SGR with a branch in Dutse, has an implementation period of 30 months and will be implemented by the Federal Ministry of Transport.

The China Development Fund for Africa through the Bank of China is expected to provide a loan facility of $ 325 million for the establishment of three electricity and renewable energy projects, including the Phase 1 and II solar cell production facility, production of electrical transformers, plants 1, II, III and high voltage testing laboratory.

The National Agency for Scientific and Technical Infrastructure (NASENI) will implement the project aimed at increasing local capacities and capacities in the development of energy and renewable technologies and infrastructure.

Credit Suisse will finance major industrialization projects, as well as micro, small and medium enterprise projects to be executed by the Bank of Industry, while SINOSURE and Standard Chartered Bank will provide funds for the provision of infrastructure for 17 MW hybrid solar power for the National Assembly (NASS).

The project, with an implementation period of five years, is expected to fill the NASS power supply gap and reduce the higher overhead costs associated with the operation and maintenance of fossil fuel generators (installed capacity of 25 MW ) to power the assembly complex.


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