Kogi Gets World Bank Commendation for Returning $4.63m Erosion Fund

The Kogi State Government has been commended by World Bank for the refund of $4.63 million surplus funds under the Nigeria Erosion and Watershed Management Project (NEWMAP).

In a letter of appreciation signed by its Regional Director, Shubham Chaudhuri, World Bank said the action of Governor Yahaya Bello made it possible for other states to benefit from the project, hence an extension of the closing date of its projects.

Titled: “Letter of appreciation: Refund of surplus project funds to the World Bank under the Nigeria Erosion and Watershed Management project (NEWMAP) (IDA Credits: 62770, 62780)”, Chaudhuri said, “I am writing to convey my sincere appreciation for the transfer to Plateau State of the surplus project funds, amounting to USD 4.63 million, that was available in the state’s NEWMAP Designated Account.

“This action was made possible by Your Excellency’s leadership, and its timeliness helped the bank’s decision to extend the closing date of the project from June 30, 2021 to June 30, 2022.”

“The returned surplus funds will ensure that other States facing a deficit of funds are able to complete their civil works, while Kogi state focuses on completing its approved ongoing works.

“We look forward to your continued leadership in following up on the progress and completion of such works.

“We trust the project can be brought to an orderly closure in your state, while achieving its intended objective and contributing to transforming lives and alleviating poverty.

“We also take this opportunity to request that you kindly also expedite the issuance of a required Letter of Comfort.

“Assuring the bank that the state will deploy the necessary funds for completion of any works that may exceed the extended period of the project.”

Spread the love
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like