Ekiti State Government Signs $200 Million Loan Agreement With World Bank

Ekiti State Government Signs $200 Million Loan Agreement With World Bank....KINDLY READ THE FULL STORY HERE▶

Governor Biodun Oyebanji’s administration in Ekiti State has successfully secured over $200 million in funding from the World Bank to drive comprehensive economic development initiatives across the state. This announcement was made by Dr. Ndiame Diop, the Country Director of the World Bank……… CONTINUE READING

During an official meeting with Governor Oyebanji earlier this week, Dr. Diop highlighted that a significant portion of the funds, totaling $60 million, has already been allocated to critical projects aimed at advancing Ekiti State’s development goals.

The allocated funds are earmarked for eight distinct projects, underscoring the importance of enhanced collaboration among various Ministries, Departments, and Agencies (MDAs) to ensure the successful implementation of these initiatives.

Governor Oyebanji, addressing Heads of Development Agencies at the Transcorp Hilton in Abuja, reiterated his administration’s commitment to forging stronger partnerships with local and international development organizations. He emphasized that through effective collaboration and resource sharing, the state can expedite its development objectives across key sectors including infrastructure, agriculture, healthcare, and education.

Highlighting Ekiti State’s commitment to transparency and reform-oriented governance, Governor Oyebanji assured stakeholders of the government’s dedication to executing projects efficiently and fostering trust among stakeholders.

He further emphasized the state’s strategic approach to attracting investments, noting Ekiti’s high rankings in transparency and security, which make it an attractive destination for commercial activities.

Governor Oyebanji also spoke about recent reforms aimed at improving the ease of doing business in Ekiti State, including the establishment of a small claims court, simplification of business permits, enforcement of contracts, and tax law adjustments to eliminate double taxation.

Regarding infrastructure development, he revealed that the Ado Ekiti airport is nearing completion and expected to commence commercial operations by the end of 2024, pending certification from relevant aviation authorities.

The governor concluded by reaffirming his invitation to international development partners and investors to capitalize on Ekiti State’s abundant opportunities and collaborate in achieving sustainable growth and development goals.

The gathering included representatives from various international development organizations such as the British High Commission, United States African Development Foundation (USADF), United States Agency for International Development (USAID), Belgium Embassy, Japan Embassy, and UNiDOC, who expressed their commitment to supporting Ekiti’s development agenda.

The event, attended by members of the State Executive Council, ambassadors, high commissioners, and country directors, underscored a unified commitment to advancing Ekiti State’s socio-economic landscape through strategic partnerships and collaborative efforts.

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