Reps approve foreign borrowings for four states

The House of Representatives has approved the planned foreign borrowing of 492.4 million dollars for Ogun, Katsina, Jigawa and Plateau states.
The approval by the green chamber comes after the consideration of a report of its Committee on “aids, loans and debt management”, which was prepared on request under the medium term external borrowing rolling plans of the Federal Government for 2016 to 2018.
The breakdown of the foreign loans shows a 32.4 million dollars facility for Jigawa state from the Islamic Development Bank for integrated rural development.
Katsina state also plans to source 110 million dollars from the Islamic Bank for healthcare, while Plateau state wants 50 million dollars from the French Development Bank for its third national urban water project.
Ogun State on the other hand is sourcing 350 million dollars for its water development from the World Bank.