The federal government has signed a deal for a $532.8 million Technical Assistance grant with the Islamic Development Bank, IDB.
A statement by the Special Adviser to the Minister of Finance on Media and Communications, Mr Paul Ella Abechi, in Abuja, said the Minister, Mrs Zainab Ahmed, sealed the deal for the grant with the ISDB Group, in Marrakesh, Morocco, on Monday.
While the Minister signed on behalf of the federal government, the President of the ISDB Group, Dr. Bandar M. H. Hajjar, signed on behalf of the Group.
According to the statement, the grant would be used to address capacity building, equipment and logistics upgrade in the Hajj Commission and for the improvement of cotton, textile and garment value chain in the Federal Ministry of Industry, Trade and Investment.
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The statement explained that: “The Technical Assistant Agreement Grant of $243,823.0 will go to the National Hajj Commission of Nigeria for capacity building/equipment and logistics upgrade.
“TA grant of $280,000 goes to the Federal Ministry of Industry Trade and Investment for the improvement of cotton, textile and garment value chain.”
The statement further quoted the Minister as informing members at the Annual General Meeting of the bank that state governments in Nigeria were doing their best to boost agriculture and food production and have adopted cluster farming which has eased access to funds by farmers, increased growth and allows access to facilities without collateral.
