Sections
Poll: Power pledge
Is Mr. President's promise of additional 6,000 MW of electricity in 18 months achievable?
FG secures $27m loan from IFAD
Font size:
This is to boost agricultural micro-credit scheme in the six geo-political zones.
The total loan package disclosed is $37.9million, with IFAD contributing $27.78, representing 67.8 percent of the total grant, while the participating institutions would contribute $4.762 million and the beneficiaries contributing 785,100.
Besides, IFAD will also give a grant of $386,800, while Ford Foundation will provide a grant of $500,000. The Federal Government will provide $6.17 million, representing 15 percent of the total loan package.
In all, 23 states and 36 local government areas would benefit from the programme which is expected to span a period of seven years
Briefing state house correspondents yesterday at the presidential villa, Abuja, after the Federal Executive Councilmeeting presided over by President Umaru Yar’Adua, John Odey, minister of information and communications accompanied by Abba Ruma, minister of agriculture and water resources, said it would support agricultural to ensure wealth and job creation in the country.
“Council today considered various national and also gave approval for an international fund for Agricultural development (IFAD) loan in support of the rural finance institution building programmes in Nigeria.”
The total loan package disclosed is $37.9million, with IFAD contributing $27.78, representing 67.8 percent of the total grant, while the participating institutions would contribute $4.762 million and the beneficiaries contributing 785,100.
Besides, IFAD will also give a grant of $386,800, while Ford Foundation will provide a grant of $500,000. The Federal Government will provide $6.17 million, representing 15 percent of the total loan package.
In all, 23 states and 36 local government areas would benefit from the programme which is expected to span a period of seven years
Briefing state house correspondents yesterday at the presidential villa, Abuja, after the Federal Executive Councilmeeting presided over by President Umaru Yar’Adua, John Odey, minister of information and communications accompanied by Abba Ruma, minister of agriculture and water resources, said it would support agricultural to ensure wealth and job creation in the country.
“Council today considered various national and also gave approval for an international fund for Agricultural development (IFAD) loan in support of the rural finance institution building programmes in Nigeria.”
Add to:
del.icio.us |
Digg
del.icio.us |
Digg
Email to a friend
Print version
Plain textRate this article
Comments ( posted):
Post your comment