latest news

FG urges Islamic bank to support implementation of ERGP

By  | 

The Federal Government has urged the Islamic Development Bank (IsDB) to support the implementation of the country’s Economic Recovery and Growth Plan (ERGP) and the delivery of signature infrastructure to ensure national development.

The Director of Information, Ministry of Finance, Mr Salisu Dambatta in a statement on Thursday said the government made the call at the ongoing 42nd Annual meeting of the IsDB in Jeddah.

Dambatta said the Permanent Secretary in the ministry, Dr Mahmoud Isa-Dutse led the Nigerian delegation.

The statement quoted Isa-Dutse as saying “we want IsDB to be more visible and deliver signature infrastructure projects in Nigeria’’.

“We appreciate their intervention in water supply, health and education sectors in a number of our states, but we want IsDB to do more.

“Given IsDB’s multiplicity of intervention instruments not available to traditional development banks, we expect IsDB to be bold and ensure overall complementarities in all development interventions in Nigeria,’’ he said.

The Permanent Secretary reiterated Nigeria’s call on IsDB to increase its financial and technical assistance to Nigeria to fast track the achievement of her numerous economic, developmental and inclusive growth goals.

He said Nigeria had derived many benefits from its membership of the IsDB, which had financed many development projects in various states of the federation.

Isa-Dutse cited the 65 million dollars Ilesha Water Supply and Sanitation project in Osun State, a 43 million dollars 300-bed hospital project in Kaduna State and the 7 million dollars Zaria Water Supply Expansion Project.

According to him, these are some of the ongoing projects being financed by the bank.

He said the national programme for Food Security funded by the bank, designed to reduce rural poverty was being successfully implemented in Anambra, Gombe and Yobe States.

The Permanent Secretary said that discussions were on-going with the bank to conclude and implement several other programmes beneficial to Nigeria, including the 98 million dollars Bilingual Education Project.

He said the project primarily targets to give “almajiris’’ access to basic education and vocational skills in Osun, Nasarawa, Niger, Kwara, Kano, Kaduna, Gombe, Borno and Adamawa.

Isa-Dutse said IsDB had also provided technical assistance to Nigeria, including 237, 500 dollars to the Central Bank of Nigeria (CBN) for the development of regulatory framework for non-interest banking in the country.

He also appreciated the bank’s 250, 000 dollars grant to the National Emergency Management Agency (NEMA) for the development of NEMA’s capacity in disaster management

 

Leave a Reply

Your email address will not be published. Required fields are marked *