The World Bank has approved N15billion International Development Association (IDA) credit to be used for developmental projects in Edo State.
In announcing the development, the bank’s Country Director for Nigeria, Marie Francoise Marie-Nelly, said that the credit facility would boost the state’s fiscal improvement and service delivery policy operation.
“We would like to encourage the Government of Edo to sustain the gains achieved to date by further improving governance and service delivery in Edo State,” she 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,” she added.
She said further that the move was the first in a new series of yearly development policy financing operations which the World Bank would provide to support the state’s attempts at creating jobs and reducing poverty.