The World Bank Group has approved $60 million grant for the implementation of rural and marketing projects in Ogun State.
The approval, which came through the bank’s International Bank for Reconstruction and Development (IBRD), was for the World-Bank assisted Rural Access and Agricultural Marketing Project in the state being done in conjunction with the state government through its counterpart funding.
The Project Coordinator, Samuel Onabanjo, who confirmed the approval on Thursday in Abuja on the sidelines of the forum on the World Bank Appraisal Mission on Project Appraisal Document, confirmed that the state government had released N713 million as its counterpart funds for the implementation of the project.
Onabanjo, who also disclosed the involvement of the Federal Government in financing the project, noted that the project had been on for three years while modalities for its effective implementation were being worked out by the relevant stakeholders.
He clarified: “The World Bank and other donor agencies, including the International Bank for Reconstruction, have approved the sum of $60m grant for the implementation of the RAAMP project in Ogun State.
“The state governor, Ibikunle Amosun, had approved the sum of N344 million for last year’s commitment, while the sum of N369 million has been approved as 2018 counterpart funding for the project, which is expected to take off soon in the state.
“The government has also recruited workers and provided office accommodation for the officers who are working on the project”, the coordinator added.