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Nairaland Forum / Nairaland / General / Politics / Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East (21721 Views)
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Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:04am On Jul 22, 2015 |
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 3 Likes 4 Shares |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:06am On Jul 22, 2015 |
The same people who derided and criticized GEJ relentlessly for supposedly accumulating debt are borrowing left, right and centre 193 Likes 14 Shares |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by dejavski(m): 8:08am On Jul 22, 2015 |
Na wa oh |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by PassingShot(m): 8:09am On Jul 22, 2015 |
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. 18 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by kodded(m): 8:10am On Jul 22, 2015 |
this buhari get sense at all ? Tackle boko haram first before thinking of rebuilding any where, who will stay in a place where bomb is their daily bread ? 164 Likes 7 Shares |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by fulanimafia: 8:11am On Jul 22, 2015 |
SenseiX: 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 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. 37 Likes 1 Share |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:15am On Jul 22, 2015 |
fulanimafia: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 89 Likes 5 Shares |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by tola9ja: 8:17am On Jul 22, 2015 |
Am very sure the money will not be embezzle unlike the former government 11 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by generaliy07(m): 8:17am On Jul 22, 2015 |
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/ |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by tola9ja: 8:17am On Jul 22, 2015 |
To |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by LatestTrend: 8:18am On Jul 22, 2015 |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:18am On Jul 22, 2015 |
So long the destroyers still linger..... its just a matter of time, the rebuilt empires will be crushed and bombed down to bits.. and at the end MONEY IS WASTED!! 24 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by tollytexy(m): 8:18am On Jul 22, 2015 |
We just dey hear the money.. we no dey see changes 5 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by switstiv(m): 8:18am On Jul 22, 2015 |
let's hope dis yield a good result |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by KAYNINI(m): 8:18am On Jul 22, 2015 |
And the borrowing session starts 5 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Bsc(m): 8:18am On Jul 22, 2015 |
Change |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by dridowu: 8:18am On Jul 22, 2015 |
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. 4 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:19am On Jul 22, 2015 |
This matter get as e be ooo...... 1 Like |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Ekhemini(m): 8:19am On Jul 22, 2015 |
They should not rebuild it now o because boko boys are in d form of their life. Nice move though. |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by DankemzI(m): 8:19am On Jul 22, 2015 |
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 15 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by coolestrogue(m): 8:19am On Jul 22, 2015 |
They killed their people all because of this. 7 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:20am On Jul 22, 2015 |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:20am On Jul 22, 2015 |
Dulllardinho taking loans like someone who is suffering from cow flu! 9 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by mencade5(m): 8:20am On Jul 22, 2015 |
na boko haram amnesty money be that o chaiiiiii.....baba one chance 22 Likes 1 Share |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by idupaul: 8:20am On Jul 22, 2015 |
Yet to see a Govt that doesn't borrow.. 1 Like |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:20am On Jul 22, 2015 |
Don't feel bad for his actions. You guys voted for him. Enjoy your change while it last. 31 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by LordCenturion(m): 8:20am On Jul 22, 2015 |
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 6 Likes
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Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by tola9ja: 8:20am On Jul 22, 2015 |
fulanimafia:God bless you manage this 5 Likes 1 Share
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Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Jessewizy(m): 8:20am On Jul 22, 2015 |
Hypocrites 4 Likes |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Unsad(m): 8:20am On Jul 22, 2015 |
goodluck |
Re: Buhari Borrows 2.1 Billion Dollars From World Bank To Rebuild North East by Nobody: 8:21am On Jul 22, 2015 |
FP of life 1 Like |
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