Boko Haram: World Bank to commit $2.1bn to rebuild north-east
Respite is eventually coming the way of the communities under the scourge of Boko Haram attacks as the World Bank has unfolded plans to rebuild the areas torched by the protracted terrorists attacks with the sum of $2.1 billion.
The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said that President Muhammadu Buhari had on Tuesday in Washington D.C. met with representatives of the World Bank, the Bill and Melinda Gates Foundation and the World Health Organisation (WHO).
President Buhari was of the view that apart from rebuilding the region in terms of infrastructure, priority must also be given to the resettlement of internally displaced persons (IDPs), who are now over one million.
He urged the World Bank to send a team, which would work in concert with a team from the federal government, so that a proper assessment of needs could be done.
The World Bank will spend the $2.1 billion through its International Development Agency (IDA), which gives low interest rates loans to government. The first 10 years will be interest free, while an additional 30 years will be at lower than capital market rate.
The World Bank is reportedly eager to move in quickly, give out the loans and give succour to the people of North-east, who are at the mercy of an insurgency that has claimed over 20,000 lives.
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