Germany Plans Loan Package for Nigeria on Rice, Potato Sufficiency | Independent Newspapers Limited
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Germany Plans Loan Package for Nigeria on Rice, Potato Sufficiency

German Ambassador Mr Michael Zenner
Posted: Apr 7, 2016 at 6:29 pm   /   by   /   comments (0)

By Emmanuel Udom, Lagos

The German Ambassador to Nigeria, Micheal Zenner, on Thursday in Abuja disclosed that his country will give agricultural supports in form of a loan package to Nigeria to assist in rice and potato sufficiency.
Zenner however said that the loan will be jointly funded by the two countries on a 50% basis.
He also assured that Germany will also provide 13 million Euros to support rehabilitation of north-east, polio eradication and promotion of solar energy.
The ambassador dropped this hint when he paid a courtesy call on Senator Udoma Udo Udoma, the Minister of Budget and National Planning at his officer in Abuja.
A press statement on the visit issued by Charles Dafe, Director, Information, to the minister quoted Udoma as assuring the Ambassador that the 2016 budget will be well managed to achieve the economic growth level Nigerians want from the present administration.
His words: ‘’Our 2016 budget will be well managed, on the expenditure side, we are taking measures to ensure release of funds for capital projects will be properly monitored to ensure its efficiently utilized towards economic development”.
The minister further explained that on the planned N1.8 trillion borrowing for infrastructural development, “we have started discussions with our local banks and international financial institutions like World Bank, China Exim bank among others”