The approval followed the consideration of a
single-prayer report of the ad hoc Committee on
Local and Foreign Debt presented by Senator
Kabiru Gaya.
The committee in its report urged the Senate to
approve the loan, stating that the World Bank has
already considered the state ready for it.
Leader of the Senate, Senator Ali Ndume, while
supporting the motion for the approval of the
loan, encouraged other states with genuine
needs to take advantage of such low interest
loans, rather than patronising commercial banks.
The seventy-five million dollars loan is the
second tranche of a two hundred and twenty-five
million dollar Development Policy Operation loan
approved for the state by the World Bank.
single-prayer report of the ad hoc Committee on
Local and Foreign Debt presented by Senator
Kabiru Gaya.
The committee in its report urged the Senate to
approve the loan, stating that the World Bank has
already considered the state ready for it.
Leader of the Senate, Senator Ali Ndume, while
supporting the motion for the approval of the
loan, encouraged other states with genuine
needs to take advantage of such low interest
loans, rather than patronising commercial banks.
The seventy-five million dollars loan is the
second tranche of a two hundred and twenty-five
million dollar Development Policy Operation loan
approved for the state by the World Bank.
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