President Muhammadu Buhari
has written a letter to the Senate requesting the legislators’ approval
for a $75 million (14.7 billion) credit facility from the World Bank on
behalf of the Edo State Government.
The letter was sent to the Senate on Tuesday, August 4, 2015, and addressed to Senate President, Bukola Saraki.
The letter reads in part:
“I
am writing to seek the consideration from the National Assembly an
approval for the request from Edo State Government to obtain a $75m
credit facility from the World Bank.”
“You may
wish to know that the World Bank had approved a development policy
programme for the total sum of $225m to Edo State Government in 2012 to
be implemented in three tranches of $75m per annum.”
“The
first tranche was approved by the National Assembly in the 2012/2014
federal government external ruling borrowing plan. The Development
Policy Operation has since been successfully implemented by the state in
2014.”
“It is for the above reason that I seek
your favour to facilitate the consideration and approval of the
development policy operation 2 loan of $75m to enable the state to
consolidate on the gain of the first tranche of the operation DPO 1.”
No comments:
Post a Comment