On Tuesday, the Benue House of Assembly granted the governor’s requests to access two loans totaling N2.2 billion so that he could pay the state’s matching funds for two projects.
The United Bank for Africa PLC is anticipated to provide the first loan in the amount of N1.2 billion to cover the state’s Universal Basic Education Program’s statutory allocation from the federal government.
The second loan of N1 billion from Zenith Bank PLC will be used to finance the state’s counterpart contribution to the federal government’s World Bank-funded Agro Climatic Resilience project in semi-arid areas.
The governor had previously told the House of Assembly that the loans had been acquired in accordance with the rules governing borrowing from commercial banks.
The federal government and donor organisations, according to the motion’s proponent, Mr. Williams Ortyom (PDP-Guma), would get involved if such counterpart payments were made.
Ortom commended the state government for always exceeding expectations by contributing matching funds to the infrastructural development of primary schools.
The resolution’s seconder, Terkaa Ucha (PDP-Tiev), praised the state government’s initiatives to rebuild various schools.
Ucha encouraged the state administration to deal with the issue of inadequate staffing in the schools and place a high focus on the welfare of teachers.
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