…As Bank Commits $1.8 Billion To Develop Nigeria
From Maduabuchi Nmeribeh, Kano
The Emir of Kano, Alhaji Aminu Ado Bayero has made a passionate appeal to the Islamic Development Bank (IsDB) over the lingering problem and increasing number of out-of-school children in Nigeria, particularly, in the North, calling on the bank to create a special funding programme to enable the children go back to school.
Emir Aminu Ado Bayero who received the President of the Bank, Dr. Muhammad Suleiman Al-Jasir, in his palace, decried the socio-economic danger posed by the menace of out-of-school children and urged the bank to come to their aide.
The Royal Father, however, commended the role of IsDB in the infrastructural and agricultural development in Kano, and other parts of its member countries, while drawing their attention to the fate of out-of-school children and girl child education.
”According to statistics from UNICEF, Kano accounts for about 1.5 million out-of-school children in Nigeria,” Emir Aminu Bayero lamented.
In his remarks the President of IsDB, Dr Mohammad said the Bank was committed towards improving the standard of living and general livelihood of the people, promising that the bank will take very seriously, the demand of the Emir.
He told the Emir that he was in Kano to monitor projects of the Kano State Agro-Pastoral Development Project (KSADP) being funded by the Bank.
The president also commissioned an animal laboratory financed by the Bank at Gwale veterinary and later visited the IsDB-funded multi-million irrigation project at Wateri village in Bagwai local government area of the state.
He inspected the newly rehabilitated 964-hectare dam under the Kano state Agro- pastoral project.
He, however, expressed his satisfaction on the level of the achievement recorded so far, and urged KSADP officials overseeing the project to keep doing the good work.
While briefing journalists on why he was in Kano, Dr. Muhammad Al-Jasir hinted that IsDB has concluded plans to support Nigeria on economic growth and social infrastructure, with a whopping sum of $1.8 billion.
According to him, it was his first time visiting Nigeria or any part of sub-saharan Africa.
He commended KSADP for meeting the expectations of the bank, which is the sponsor of the project whose objective is to reduce poverty by strengthening food security in Kano.
He said that the project funded by the bank and the Lives and Livelihood Funds (LLF), has contributed to poverty reduction and strengthened food and nutrition security in the state.
He further stated that, “the bank has been monitoring Kano’s performance. I am impressed that you are working very hard to meet the bank’s expectations.
”The IsDB has approved a total financing of $1.8 billion for Nigeria.
”The $1.8 billion facility for Nigeria is made up of 971 million dollars for project financing by the bank, and about 288 million dollars provided by the Islamic Corporation for Development (ICD)–IsDB’s private sector affiliate.”
The IsDB President said that $477 million was in form of trade operations by its trade arm, the International Islamic Trade Finance Corporation (ITFC) and 90 million dollars from other funds and operations.
He added that, “our investment guarantee arm has provided 1.1 billion dollars as business insured and 1 billion dollars as a new insurance commitment to help attract businesses and insure them.
“The IsDB active portfolio in Nigeria now stands at 1.2 billion dollars and we look forward to strengthening our bilateral relations.
“The bank is keen to continue to engage Nigeria on its strategic priorities areas such as economic and social infrastructure and advisory support for strengthening Islamic financial services.”
