Hammed Shittu in Ilorin
Kwara State Governor, Alhaji Abdulfatah Ahmed, thursday explained the rationale behind the access of the $60million loan saying that, it is a federal government initiative aimed at opening up rural roads across the state.
Speaking while receiving traditional rulers from Kwara South led by Oloffa of Offa, Oba Mufutau Gbadamosi Esuwoye II, who paid him Sallah homage at Government House, Ilorin, Ahmed said the project is in partnership with the World Bank and the French Development Agency.
The governor said the funds will be made available to state governments willing to partner with the federal government to rehabilitate some rural roads especially those that link up with commercial environments.
According to him â€œthe fund is expected to contribute 95 per cent of the projects while the states contribute five per cent counterpart funding to access the $60million World Bank loan. The money would be used purely for rural roads.â€
Ahmed pointed out that the loan is a soft loan given to the federal government by the World Bank.
He said: â€œKwara State is only part of those state to enjoy the second tranche of the soft loan to make roads available to people in the rural environment, noting that some states like Adamawa, Cross Rivers, Enugu and Kaduna have enjoyed the first tranche of the fund.â€
Reacting, the Oloffa of Offa, Oba Mufutau Gbadamosi Esuwoye II, thanked governor Ahmed for the various projects in Kwara South and promised that traditional rulers in the areas will continue to support and pray for the success of the current administration in the state.