ABIA State House of Assembly has given Governor Okezie Ikpeazu the approval to secure a N10 billion loan from the Central Bank of Nigeria.
This is different from the N14.152 bailout loan given to the State by the Federal Government. The N10 billion loan would be obtained at an interest rate of nine per cent.
According to the House of Assembly, the loan would be channeled towards the provision of infrastructure across the three senatorial zones.
The House also approved another N2.7 billion loan as the state counterpart fund contribution to four international donor agencies for intervention projects.
The four intervention programmes fall under the Universal Basic Education Commission, the NEWMAP, Rural Access Mobility Programme and Community and Social Development Programme.
The Speaker of the House, Mr. Martins Azubuike who announced the approvals during Tuesday plenary, explained that members had approved the request following a correspondence from the Governor on that.
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