Date: 2014-02-05

The Kwara State House of Assembly yesterday gave the state government go ahead to access a loan facility of N206,250,000 from ECO Bank Plc to enable counterpart funding for MDG projects.

Governor Abdulfatah Ahmed had through a message dated January 3rd, 2014  sought the House approval to secure the loan facility of N206,250,000 from Eco Bank  PLC to finance state government counterpart funding on Millennium Development Goals (MDGs) projects.

The House approval was sequel to the adoption of the report of House Committee on Finance and Appropriation presented by its chairman, Hon. Suleiman Sunoboro Idris of Ilesha/Gwanara Constituency.

The committee observed that Conditional Cash Transfer (CCT) is focused on achieving the MDGs on health and poverty eradication and reduction.

It noted further that the Federal Government had credited the sum of N187.5 million CCT fund to Kwara State and 23 other states while the state is expected to pay matching grant of N187.5 million to cover 2250 beneficiaries as well as mandatory 10 per cent state operational cost contribution.

The benefiting local governments from the projects according to the report are Asa, Ifelodun, Ilorin West, Isin and Moro.

The benefiting communities would be selected according to the implementation guidelines using poverty mapping.