President Buhari Applauds World Bank On NorthEast Intervention

The World Bank has agreed to spend $2.1 billion in rebuilding/rehabilitating the devastated Northeast of Nigeria. This is as a result of talks held with President Buhari is Washington, and has also seen the World Health Organization, WHO indicating interest in investing $300 million on immunization against malaria scourge in Nigeria. The International Development Agency (IDA) a World Bank agency would be in charge of disbursing the $2.1billion. Femi Adesina Presidential SA on Media and Publicity, clarifies that the initial 10 years of the loan will be interest free while the additional 30 years would be at an interest rate below capital market rate.President Buhari expressed his delight at the gesture but emphasized that apart from rebuilding the Northeast zone, priority should be given to the resettlement of Internally Displaced Persons (IDPs) who are estimated to be about one million across the region.