The Federal Executive Council (FEC) has approved two external loan facilities amounting to $396 million to fund humanitarian and health development projects across northern Nigeria.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed this while briefing State House correspondents after Thursday’s FEC meeting presided over by President Bola Ahmed Tinubu at the Presidential Villa, Abuja.
According to the minister, the first facility — a $300 million credit from the World Bank — will support internally displaced persons (IDPs) and host communities in several northern states.
He said the second loan, totalling $96 million, will finance the Sokoto Health Infrastructure Project, with contributions from the Islamic Development Bank (IsDB) and the African Development Bank (AfDB), providing $50 million and $46 million respectively. The Sokoto State Government, he added, is expected to provide counterpart funding.
Edun explained that both facilities are designed to rebuild communities devastated by conflict, improve living standards for displaced persons, and strengthen healthcare delivery systems in the region.
He reaffirmed that the Tinubu administration remains committed to addressing humanitarian challenges while ensuring sustainable development in the health sector.
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