Ekiti Secures $200m World Bank Loan

Ekiti State has secured over $200m from the World Bank to ensure the all-round development of the state’s economy.

This was revealed by the bank’s Country Director, Dr Ndiame Diop during an official engagement with the Ekiti State Governor, Biodun Oyebanji on Tuesday.

According to Diop, out of the $200m, $60m has been disbursed so far in some critical aspects of the state’s development.

He explained that the funds are directed at eight different projects, calling for more effective collaboration from the Ministries, Departments and Agencies (MDAs), to ensure success of the projects.

While speaking during the strategic meeting with Heads of Development Agencies at the Transcorp Hilton, Abuja, governor Oyebanji said he seeks increased collaboration and partnership with both local and international development agencies, to ensure all-round development of the state’s economy.

According to him, with the right partnership and collaboration, the state’s development goals could be significantly accelerated through cooperation and resource sharing.

In his opening address, he emphasised that Ekiti State has positioned itself as reform-minded, transparent and accountable to build trust with stakeholders and ensure that development initiatives are effectively implemented.

He said his administration is determined to harness, explore collaborations, gather necessary support, and resources to drive development in the critical areas of the state economy, which include infrastructure, agriculture, healthcare and education, among others.

Highlighting numerous reforms by his administration to create a conducive atmosphere for investment, the governor emphasised Ekiti’s top position in the transparency index, and its recognition as the safest state in the country has made it an ideal environment for business operations.

He said his administration is intentional in its efforts towards achieving the state’s 30-year development plan through partnership, and collaboration with national and international development partners.

While calling the development partners to consider Ekiti State as their next investment destination, and take advantage of the numerous opportunities and advantages in the state, Oyebanji said the state is open for business, and eager to partner with investors who share the state’s vision of sustainable growth and development.

He said “We are a government that is reform-minded, transparent, we are accountable and I’m leading a team that is competent and committed to the mandate of this administration.

He also revealed that access to the state is being improved with investment in road infrastructure. He revealed that the Ado Ekiti airport would be ready for commercial operation before the end of the year, adding that the airport is undergoing a certification process by relevant aviation authorities.

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