Kwara Plans To Set Up Infrastructure Development Fund

Posted by African Examiner Latest Headlines, News From The State, Uncategorized Thursday, January 30th, 2014

Kwara State Government has concluded arrangements to set up an Infrastructure Development Fund to provide a pool of Funds to finance a holistic infrastructure development of the state.

Kwara state Governor Abdulfatai Ahmed

According to Governor Abdulfatah Ahmed, who stated this at the monthly interactive program “The governor Explains”, the State needs about N300billion to up scaling of infrastructure in the State to an acceptable standard.

According to him, this was why the State government was in the capital market to raise N30billion to support infrastructural needs, such as electricity, water, energy, education and security critical to the development of Kwara State.

“In a bid to see that we create a platform that will allow us access funds, we feel that the best way is to set up an Infrastructure Development Fund. This is a pool of funds which attract support groups and individuals to raise funds that will be managed by financial institutions”, the governor explained.

Dr Ahmed noted that the banks can borrow or lend against the Fund while the State government will be able to access funds on continuous basis for the development of infrastructure with the hope that when the Fund becomes functional it will be a platform for funding infrastructure in Kwara State by even coming administrations.

Governor Ahmed described the robbery cases on some banks in the state as unfortunate; adding however, that his administration has assured Bankers Committee that security has now been fully taken care of to ensure that such threat does not arise again.

He said the State Security Joint Taskforce, Operation Harmony, has been equipped and funded to push the security of live and property in the State to a comfortable level.

Dr Ahmed said his administration will also employ 5000 youths under the QuickWin Intervention Programme in different sectors such as public works, artisan training among others, adding that another 2,000 youths will be employed by the Teaching Service Commission and the mainstream civil service to address the issue of shortfall in personnel occasioned by retirements of civil servants.