ABIA STATE GOVERNMENT TO GENERATE 3000 JOB OPPORTUNITIES THROUGH ISLAMIC DEVELOPMENT BANK FINANCING FACILITY

ABIA STATE GOVERNMENT TO GENERATE 3000 JOB OPPORTUNITIES THROUGH ISLAMIC DEVELOPMENT BANK FINANCING FACILITY

David Maduako –Umuahia

ABIA State government’ say she would generate over 3000 job opportunities for youths in the state through the newly approved Islamic Development Bank facility for the state .

This was contained in a press release signed by the Chief Press Secretary to the state governor Citizen Ukoha Njoku Ukoha which stated that the President Bola Ahmed TInubu led Federal government have granted the approval of 125 million US dollars from the Islamic Development Bank financing facility for the Abia state’s Integrated Infrastructure Development Project .

This approval the CPS said marks a major milestone in a project that has undergone extensive consultations and procedural steps, and is a critical component of the overall co-financing arrangement for the State’s Infrastructural development drive. The project’s total cost outlay is USD 263.80 million, comprising ,
USD 125 million from the Islamic Development Bank ,
•USD 100 million from the African Development Bank (AfDB);
•USD 15 million from the Canada–Africa Development Bank; and
•USD 23.80 million counterpart funding from the Abia State Government.

The Islamic Development Bank facility, he stated is significant due to its financing agreement signed for the project to proceed, given the integrated nature of the co-financing structure. The African Development Bank AFDB and Canada–Africa Development Bank financing agreements have already been concluded, with the AfDB loan agreement signed earlier this year.

Under the project, the Islamic Development Bank financing will support the construction of approximately 126 kilometres of road network in Aba and 35.57 kilometres in Umuahia, including a link road between the two cities, as well as some erosion control works in the state .
When
completed, the project will
ease road movement ,
create over 3,000 jobs for local residents,
Improve access to social services; and
Attract private sector investment.

The projects
will be executed through the State Ministry of Works, under the supervision of a State Steering
Committee.

The state governor Dr Alex Otti expressed his gratitude to President Ahmed Bola TInubu and other major Stakeholders who in one way or the other facilitated the approval .
End .