The World Bank has unfolded a package which would see it spending up to $2.1 billion in rebuilding the badly devastated North-eastern part of Nigeria, ravaged for the past six years by the Boko Haram insurgency.


At a meeting in Washington today with representatives of the World Bank, the Bill and Melinda Gates Foundation, and the World Health Organization (WHO), President Buhari said apart from rebuilding the region in terms of infrastructure, priority must also be given to the resettlement of internally displaced persons (IDPs), who now number over one million.


He urged the World Bank to send a team, which would work in concert with a team from the Federal Government, so that a proper assessment of needs could be done.
The World Bank will spend the 2.1 billion dollars through its IDA (International Development Agency), which gives low interest rates loans to government. The first 10 years will be interest free, while an additional 30 years will be at lower than capital market rate.


The World Bank is eager to move in quickly, give out the loans, and give succour to the people of North-east, long at the mercy of an insurgency that has claimed over 20,000 souls.
WHO is also to invest 300 million dollars on immunization against malaria in Nigeria, while the Bill and Melinda Gates Foundation will collaborate with Dangote Foundation to ensure that the country maintains its zero polio case record of the past one year. If the effort is sustained for another two years, Nigeria will be declared fully free of polio.

FEMI ADESINA
SPECIAL ADVISER, MEDIA AND PUBLICITY
JULY 21, 2015
http://www.statehouse.gov.ng/index.php/news/1327-president-buhari-hails-world-bank-s-decision-to-spend-2-1-billion-in-rebuilding-north-east

The same people who derided and criticized GEJ relentlessly for supposedly accumulating debt are borrowing left, right and centre

Na wa oh

This will kick start the battered economy of the NE if true.

The World Bank will spend the 2.1 billion dollars through its IDA (International Development Agency), which gives low interest rates loans to government. The first 10 years will be interest free, while an additional 30 years will be at lower than capital market rate.

If the emboldened is correct, it's far better than what normally obtains in the capital market.

SenseiX:
The same people who derided and criticized GEJ relentlessly for supposedly accumulating debt are borrowing left, right and centre

Did you read the terms of the loan? Interest will not be paid till after ten years and repayment which will be spread over 30 years, will be at a lower interest rate than usual.

What you should be concerned about are the efforts that are being made to grow the economy so we do not feel the pinch when repayment commences eventually.

SenseiX:

The loan terms are typical of all World Bank and IMO loans and I have no qualms with it, I actually think the loans are a good idea if judiciously used...My grouse is with the hypocrisy of it all, considering the way the APC vehemently opposed and criticized these same World Bank loans with similar terms and conditions when NOI was finance Minister

The underlying justification of any loan is purpose.

Jonathan in March this year borrowed another $2 billion under the guise of strengthening our currency after spending over $4 billion on his Presidential campaign. Who in his right senses will not condemn such senseless misplacement of priorities?

Contrast that with PMB that is borrowing to rebuild the devastated NE and restoring a semblance of hope for Nigerians caught in the war. You're comparing apples and oranges.

fulanimafia:


Did you read the terms of the loan? Interest will not be paid till after ten years and at a lower rate than usual.

What you should be concerned about are the efforts that are being made to grow the economy so we do not feel the pinch when repayment commences eventually.

The loan terms are typical of all World Bank and IMO loans and I have no qualms with it, I actually think the loans are a good idea if judiciously used...My grouse is with the hypocrisy of it all, considering the way the APC vehemently opposed and criticized these same World Bank loans with similar terms and conditions when NOI was finance Minister

May God help us, Nigeria will be great again
Make una see something below


"Ballotelli it was who would wake us up around 4:30 each day, he once scared me out of my bed, while I was having a sweet dream, I was dreaming about getting married to a girl I had always admired, at a point in the dream, the
Pastor said to me,”you may now kiss your bride”, I leapt forward to do that which I’d long awaited only for Ballotelli to put his gun boot near my head with a loud scream, I woke up kissing his
dirty gun boot instead of the sweet lips of the sister!...

Read more

https://samueliyanu./2015/07/21/the-chronicles-of-corper-sam/

To

We just dey hear the money.. we no dey see changes

let's hope dis yield a good result

And the borrowing session starts

Change

Rebuilding the North East is good but the main issue is judicious use of the money. The most important thing again is re-orientation of our fellow brothers and sisters living there.

This matter get as e be ooo......

They should not rebuild it now o because boko boys are in d form of their life. Nice move though.

See this people o!
Them never stop Boko Haram Dem don start rebuilding
They Rebuild Boko Haram it!
**am not hating **
But I hope the loan & interest won't be repayed with our Oyel Money

They killed their people all because of this.

Dulllardinho taking loans like someone who is suffering from cow flu!

na boko haram amnesty money be that o




chaiiiiii.....baba one chance

Yet to see a Govt that doesn't borrow..

Don't feel bad for his actions.
You guys voted for him.
Enjoy your change while it last.

GOD bless PMB, long life president of the people, may your time bring rain of peace into our country..

Muhammadu Buhari, the president of most populous black country In Africa, the bringer of rain, the slayer of GEJ.


In other news, the wailing wailer be like

fulanimafia:


Did you read the terms of the loan? Interest will not be paid till after ten years and repayment which will be spread over 30 years, will be at a lower interest rate than usual.

What you should be concerned about are the efforts that are being made to grow the economy so we do not feel the pinch when repayment commences eventually.

God bless you manage this

Hypocrites

goodluck

FP of life