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2013 Budget: Enugu to borrow over N7billion

By on June 2, 2013

Enugu State government says it would borrow over seven billion naira this year to fund different developmental projects contained in its 2013 budget.

The Commissioner for Finance and Economic Planning in the state, Godson Nnadi, who made the disclosure while briefing journalists on the 2013 budget of the state, said the government was expecting domestic loans of three billion eight hundred and forty one million, four hundred and twenty-three thousand, four hundred eight naira (N3, 841,423,408).

Nnadi further disclosed that the state was expecting the sum of three billion, five hundred million naira (N3, 500,000,000) external loans.

He explained that the external loans would be sourced from World Bank Loan for Rural Access and Mobility Project (RAMP), World Bank-Assistance for Community and Social Development Project (CSDP), World Bank Loan for FADAMA111, World Bank Loan for Commercial Agriculture and Loan for Urban Water.

The Commissioner disclosed that the “draw dawn expected from our internal and external donors in the form of grants in the 2013 amounts to four billion, six hundred and seventy four million, one hundred and eighty six thousand naira (N4, 674,186,000).

The grants, according to him include the UNICEF Grants for Survival and Early Child Care, Basic Education, Water, Sanitation and Hygiene, Protection and Participation, Planning and communication.

He added that the government was also expecting Federal Government Grant for UBE, Education Tax Fund for Primary, Secondary and Tertiary Institutions Development.

One Comment

  1. Jemima

    June 13, 2013 at 4:33 pm

    Enugu State government should include water in their project, good work in Enugu all the way