FG Set To Obtain $124.2M Loan For Water Project

A loan of $104.2m and $20m to be gotten from two international financial institutions has been approved by the Federal Executive Council for the development of water projects in the country.

Spokesperson of the Federal Ministry of Water Resources, Kenechukwu Offie, disclosed this in a statement on Thursday, November 5, in Abuja.

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According to her:

“The Federal Executive Council at its meeting of November 4, 2020, approved to obtain loans of $104.2m from African Development Bank and $20m from African Growing Together Fund to finance Nigerian Urban Water Reform and Akure Water and Sanitation Project.

The project aims to provide sustainable access to safe drinking water for the residents of Akure city and its environs.”

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