Benefit from our loans; build strong institutions- World Bank to Nigerian States

image

The World Bank has assured other
states in Nigeria that they can enjoy the loan facility granted to Lagos and Edo states if they embark on reforms that will build strong and lasting institutions
that will endure successive governments.

The World Bank through the bank’s Country Director for Nigeria, Marie Francoise Marie-Nelly, who
stated this in a statement backing the 75 million dollars World Bank loan to Edo State which was
approved  on April 29, 2015, said: “We expect that this budget support to Edo, like that granted to
Lagos State earlier, will have a positive demonstration effect on other states in Nigeria by inspiring them to take on important reforms to build strong systems and institutions that will endure over successive governments”.

While urging the states to work hard in the area of transparency and accountability to enjoy loan
facility, the bank pointed out that “ Edo state is strengthening its financial management information
system for budget management, strengthening the alignment of the state’s annual budget to the
strategic priorities of the government as well as improving financial accountability through timely audits and publication of the state government’s audited financial accounts.

“The programme will also ensure
professionalization of the state’s procurement function to improve the management of public
procurement in the state. In the area of education, one key reform undertaken by Edo state is the
strengthening of governance at the basic education level through the involvement of the established
school-Based Management Committees in the monitoring of teacher and pupil attendance at
schools” it stated.

Also speaking,  the Task Team Leader for the Operation, Gloria Joseph-Raji, said “Development
policy financing is an instrument which the Bank uses to support client governments to reduce
poverty sustainably through a programme of policy and institutional reforms.”

2 thoughts on “Benefit from our loans; build strong institutions- World Bank to Nigerian States

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s