{"id":86086,"date":"2021-09-19T10:02:22","date_gmt":"2021-09-19T09:02:22","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=86086"},"modified":"2021-09-19T10:02:22","modified_gmt":"2021-09-19T09:02:22","slug":"external-borrowing-presidency-lists-projects-to-benefit","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/external-borrowing-presidency-lists-projects-to-benefit\/","title":{"rendered":"External Borrowing: Presidency lists projects to benefit\u00a0"},"content":{"rendered":"<div id=\"m7652\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">President Muhammadu has listed a total of 15 projects, which are to be financed with more than $4 billion loan from multilateral institutions, under the 2018-2021 medium term (rolling) external borrowing plan.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal  \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div dir=\"auto\">\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The President had requested the Senate to approve sovereign loans of $4.054bn and \u20ac710million as well as grant components of $125m for the proposed projects.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">According to the letter by the President, the sovereign loans will be sourced from the World Bank, French Development Agency (AFD), China-Exim Bank, International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chartered\/China Export and Credit (SINOSURE).<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The President\u2019s request to the Senate listed 15 proposed pipeline projects, the objectives, the implementation period, benefiting States, as well as the implementing Ministries, Departments and Agencies (MDAs).<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u00a0In a statement by the\u00a0Senior Special Assistant to the President\u00a0(Media &amp; Publicity), Garba Shehu the\u00a0\u00a0breakdown of the \u2018\u2018Addendum to the Proposed Pipeline Projects for the 2018-2021 Medium Term (rolling) External Borrowing Plan,\u2019\u2019 shows that the World Bank is expected to finance seven projects including the $125million grant for \u2018\u2018Better Education Services for All\u2019\u2019.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The Global Partnership for Education grant is expected to increase equitable access for out-of-school children and improve literacy in focus states.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The grant, which will be implemented by the Federal Ministry of Education and the Universal Basic Education Commission (UBEC), will strengthen accountability for results in basic Education in Katsina, Oyo and Adamawa States.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Other projects to be financed by the World Bank are, the State Fiscal, Transparency, Accountability and Sustainability Programme for Results as well as the Agro-Processing, Productivity, Enhancement and Livelihood Improvement Support Project.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The benefiting States for the agro-processing project are, Kogi, Kaduna, Kano, Cross River, Enugu and Lagos with the Federal Ministry of Agriculture and Rural Development as the implementing ministry.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u00a0&#8220;The objective of the project is to enhance agricultural productivity of small and medium scale farmers and improve value addition along priority value chains in the participating States.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Similarly, the World Bank is also financing the Nigeria Sustainable Water Supply, Sanitation and Hygiene (WASH) project in Delta, Ekiti, Gombe, Kaduna, Katsina, Imo and Plateau States, for the next five years.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The project, when completed, is expected to improve rural water supply, sanitation and hygiene nationwide towards achieving Sustainable Development Goals (SDGs) for water supply and sanitation by 2030.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Under the external borrowing plan, the World Bank supported projects also include Nigeria\u2019s COVID-19 Preparedness and Response Project (COPREP), under the supervision of the Federal Ministry of Health and Nigeria Centre for Disease Control (NCDC).<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The project, which has an implementation period of 5 years, will respond to threats posed by COVID-19 through the procurement of vaccines.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Furthermore, no fewer than 29 States are listed as beneficiaries of the Agro-Climatic Resilience in Arid Zone Landscape project, which is expected to reduce natural resource management conflicts in dry and semi-arid ecosystems in Nigeria.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The benefiting states for the project to be co-financed by World Bank and European Investment Bank (EIB) are: Akwa Ibom, Borno, Oyo, Sokoto, Kano, Katsina, Edo, Plateau, Abia, Nasarawa, Delta, Niger, Gombe, Imo, Enugu, Kogi, Anambra, Niger, Ebonyi, Cross River, Ondo, Kaduna, Kebbi, Jigawa, Bauchi, Ekiti, Ogun, Benue, Yobe and Kwara.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The World Bank is also funding the Livestock Productivity and Resilience project in no fewer than 19 States and the Federal Capital Territory (FCT).<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The China EXIM Bank is expected to finance the construction of the branch line of Apapa-TinCan Island Port, under the Lagos-Ibadan Railway modernisation project.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The French Development Agency will finance two projects, which include the National Digital Identity Management project and the Kaduna Bus Rapid Transport Project.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The digital identity project will be co- financed with World Bank and EIB.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The Value Chain Development Programme to be financed by IFAD and implemented in Anambra, Benue, Ebonyi, Niger, Ogun, Taraba, Nasarawa, Enugu and Kogi States will empower 100,000 farmers, including over 6,000 and 3,000 processors and traders respectively.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The loan facility to be provided by European ECA\/KfW\/IPEX\/APC will be spent on the construction of the Standard Gauge Rail (SGR) linking Nigeria with Niger Republic from Kano-Katsina-Daura-Jibiya-Maradi with branch to Dutse.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The specific project title, Kano-Maradi SGR with a branch to Dutse, has an implementation period of 30 months and will be implemented by the Federal Ministry of Transport.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The Chinese African Development Fund through the Bank of China is expected to provide a loan facility of $325 million for the establishment of three power and renewable energy projects including solar cells production facility Phase 1 &amp; II , electric power transformer production, Plants 1, II, III and high voltage testing laboratory.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The National Agency for Science and Engineering Infrastructure (NASENI) will implement the project aimed at increasing local capacity and capability in the development of power and renewable energy technologies and infrastructure.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Credit Suisse will finance major industrialisation projects as well as micro, small and medium enterprises schemes to be executed by the Bank of Industry while SINOSURE and Standard Chartered Bank will provide funds for the provision of 17MW Hybrid Solar Power infrastructure for the National Assembly (NASS) complex.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;The project, with an implementation period of five years, is expected to address \u2018\u2018NASS power supply deficit and reduce higher overhead burdensome cost of running and maintaining fossil fuel generators (25MW installed capacity) to power the assembly complex.\u2019\u2019<\/div>\n<div dir=\"auto\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>President Muhammadu has listed a total of 15 projects, which are to be financed with more than $4 billion loan from multilateral institutions, under the 2018-2021 medium term (rolling) external&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":85938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-86086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>External Borrowing: Presidency lists projects to benefit\u00a0 - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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