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AFD Grants Nigeria N280Bn Sovereign Loan In 10 Yrs

The Agence Francaise De Development (AFD) has provided about N280 billion sovereign loan to the Federal Government of Nigeria over the past 10 years.

The amount represented 44 percent of the £1.5 billion committed to development programmes by the AFD during the period

AFD Country Director in Nigeria, Pascal Grangereau, who gave these hints while addressing the media in Abuja as part of plans to mark the 10th anniversary of the ADF in Nigeria, said that the interventions were in infrastructure, agriculture, power, energy and rural development.

Grangereau disclosed that since the agency’s foray into the country, at least 1.8 million people had benefited from better power supply, with nearly 2,000 kilometres of rural roads rehabilitated in various states.

He explained further that30 projects had been financed with a portfolio amount of 1.5 billion Euros, and 11,230 tons of cereal purchased to prevent food crisis in West Africa.

This is even as he hinted that the psychological assistance to internally displaced persons (IDPs) in the North East gulped about £35 million, under the Lake Chad Inclusive Economic and Social Recovery Programme (RESILAC), which was co-funded by the European Union.

According to him, since the visit of the French President, Emmanuel Macron, to Nigeria a few months ago, the AFD is exploring new areas of bilateral cooperation which will focus on culture and creative arts, sports development and tertiary education in the country.

In his comments, the IFAD’s Regional Director, Gulf of Guinea, Matthieu Discour, pointed out that the new areas of cooperation would include digital sector development, governance and development and international solidarity education.

He explained that the development finance agency had put in place special grant scheme for SMEs selected by the Tony Enumelu Foundation (TEF), adding that the AFD will provide £5 million grant to support income- generating activities in the Lake Chad region.

 

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