FG Partners European Bank to Finance Irrigation Projects
The Federal Government has reiterated her readiness to partner with European Investment Bank in the infrastructure development of water projects in Nigeria.
Speaking while receiving the European Union Delegation to Nigeria, Tuesday10th April, 2018 in Abuja, the Permanent Secretary, Federal Ministry of Water Resources Dr. Musa Ibrahim assured the delegationthat the ministry is open to more investments in the water sector.
The meeting was to discuss how the European Investment Bank (EIB) can support the financing of public sector projects and development infrastructure in Nigeria.
The Permanent Secretary promised that the Ministry will give the Union maximum cooperation and ensure that their quest to uplift that standard of living of the people of Nigeria through the provision of water infrastructure is well utilized.
Dr. Musa Ibrahim stated that the water sector is a big sector with a lot of potential projects for financing most especially in dams, water supply and sanitation sub sectors of the ministry and gave assurance that the ministry is going to come up with specific areas in which the ministry will be needing financing either in form of loan or grants.
Earlier, the Head of European Union (EU) Delegation, Mr. Jeans Hegel said the EU has been supporting the water sector in Nigeria for the past 15 years through grants. Specifically, he said that the EU is supporting Nigeria in the water sector in 14 states of the Federation.
Moussa Nakoulina, Loan Officer of European Investment Bank (EIB) requested from the ministry specific projects that would need financing. Adding that the bank is capable of financing about 50% of any such project on a non – profit loan basis.
He called on the ministry to take advantage of such infrastructural financing as other sectors in other countries have done.