FG seeks Islamic Bank’s support

FG seeks Islamic Bank’s support

As Nigeria battles to exit economic recession, the Minister of Finance, Mrs. Kemi Adeosun, has urged the Islamic Development Bank (IsDB) to urgently support the implementation of the country’s Economic Recovery and Growth Plan (ERGP) and the delivery of signature infrastructure to meet Nigerian’s needs.

Speaking at the 42nd annual meeting of the bank in Jeddah, Saudi Arabia recently, Mrs. Adeosun, who was represented by the Permanent Secretary, Ministry of Finance, Dr. Mahmoud Isa-Dutse, appreciated the company’s support in providing infrastructure in some states.

Isa-Dutse said: “We want IsDB to be more visible and deliver signature infrastructure projects in Nigeria. We appreciate their intervention in the water supply, health and education sectors in a number of our States, but we want IsDB to do more.”

The minister expressed Nigeria’s appreciation to IsDB for consistently supporting the country’s economic and development aspirations, and for upgrading the Nigerian office to a regional hub, which will be responsible for other countries in West and Central Africa.

She reiterated Nigeria’s call on IsDB to increase its financial and technical assistance to Nigeria, to fast track the achievement of its numerous economic, developmental and inclusive growth goals.

While noting that Nigeria had derived many benefits from its membership of the Islamic Development Bank (IsDB), including the financing many development projects in various states, Adeosun cited the US$65 million Ilesha water supply and sanitation project in Osun State, a US$43 million 300-bed hospital project in Kaduna State and the US$7 million Zaria water supply expansion project as some of the ongoing projects being financed by soft loans from the bank.