In a statement signed by the S.A to the Minister of Finance on Media and Communications, Mr. Paul Ella Abechi, said this was made known by the Minister of Finance, Mrs. Zainab Shamsuna Ahmed, while addressing the 7th Community of Practice (CoP) made up of state Commissioners of Planning and Budgeting in Abuja.
Mrs. Ahmed displayed that states will continue with their fiscal responsibility which will serve as platform to access the loan and grant from the World Bank.
The Community of Practice meetings enhance the state Commissioners of Planning and Budget’s capabilities in performing their functions and serve as platforms for facilitating peer learning and information exchange, strengthening coordination, collaboration and networking.
World Bank $750million grant and loans facility
The minister added that “this year was so good that the World Bank said this group has done well and therefore we are going to give World Bank $750million grant in the form of concession loans and grant which will be available soon for the states to access”.
She told the states that “we are in the process of going to the Federal Executive Council (FEC) to get the approval; the World Bank on its own has already approved this and others. So we hope that you will continue to implement your fiscal responsibility so that you will qualify for this facility as well as the grant.
She also charged the CoP to make monitoring of the process of implementation of budget a cardinal objective, because it would benefit and enhance what they are doing to improve the standard of living of the people in their states.
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