Anambra; Obi to Secure $125M World Bank Loan for Successor

26 Jan 2013

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Governor Peter Obi

Adebiyi Adedapo 

Anambra State Governor,  Mr. Peter Obi,  has said that he would source a foreign loan worth $125 million from the World Bank for the state.

Obi said this Saturday in Awka during the citizen’s forum, an interactive session to round-up the 3day inspection visit by the National Good Governance Tour to the state.

The governor who revealed that he had not borrowed any fund since the inception of his administration,  explained that the $75 million of the loan would be used for erosion control, while $50 million would be used in improving the educational sector of the  state.

The governor however said that the funds would not be utilised by the present administration but would be kept his successor.

“we are now seeking a 50 years loan, 10 years moratorium from World Bank for about $75 million for our erosions,  we are also seeking a $50 million for our education, so we have $125 million, I am actually going to ask for more, every single kobo of it that we secure will not be touched by the life of this government, it will be there for whoever succeeds me, because it is my intention to put this state in a financial situation that it can run if God wishes it good and give us somebody better than me,” he said.
*details to come later

Tags: Business, Nigeria, Featured, World Bank

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