Amaka Obiefuna.

The Board of Directors of African Development Bank (AfDB) has approved over 600 million dollars for three projects in Nigeria to enhance development and efficiency in the country.

The Nigeria Country Office of the Bank made this disclosure in the January edition of its newsletter in Abuja on Tuesday.

The bank stated that 250 million dollars loan and five million euro grant was approved by the board for rebuilding, recovery and stabilization in the Northeast.

 “The board approved a financing package comprising 150 million dollars for ADB Loan, 100 million dollars for ADF Loan and five million euro for RWSSI grant facility to finance the Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Programme (IBSDLEIP).

“It’s in support of operationalising the “Buhari Plan” for emergency transition, recovery and peace building for Northeast states in Nigeria. The bank’s support will reach over 10 million affected people, including about two million IDPs of which 53 per cent are women.

 “And 57 per cent are children with restoration of effective and efficient basic service delivery, including interventions in water and sanitation, health and nutrition and education,’’ the bank stated.

The bank stated that the approval marked building better approach and underpinned efforts at tackling key causal push factors of the Boko Haram insurgency to help curtail the risk of fueling further escalations and terrorism.

It stated that 80 million dollar loan was approved for the rehabilitation of Kainji dam and 20 million dollars equity was also approved for Jebba hydro plant to increase available capacity from the current 917 MW to installed capacity of 1,338.4 MW.

 “The Kainji and Jebba plants are among Nigeria’s cheapest and steadiest suppliers of electricity.

 “The project is expected to deliver strong development outcomes in the country. It said.

The bank has also approved 250 million dollars loan to support ENABLE Youth Nigeria programme aimed at job creation and youth empowerment in urban and rural areas.

The ENABLE Youth Nigeria programme would be implemented in all 36 states of the federation, including the Federal Capital Territory (FCT).

 “The programme will target a 50:50 male and female participation across the federation ageing from 18 to 35 years.

 `The target is to reach 1,000 agripreneurs per state who will establish enterprises as individuals.

 “The businesses will generate about 185,000 additional jobs. Total direct jobs created by the programme would reach as much as 222,000. The bank said.

Source: Government