Breaking News
Translate

Reps approve $500m loan for amnesty, railways

By Tordue Salem

ABUJA—The Federal Government has begun piling up fresh loans from the Bretton Woods Institutions, as the House of
Representatives yesterday approved a $500 million World Bank loan expected to “finance” the amnesty project, fix
rail lines in six cities, among other things contained in the supplementary budget to be implemented next year.

President Umaru Yar’Adua had in a letter to the National Assembly on July 27,  urged the National Assembly to
“endorse the Emergency Supplementary Expenditure to effectively respond to current challenges”

The House, in passing the supplementary budget approval expected to be financed by the World Bank loan, recalled
that the “2009 Appropriation Act inadvertently omitted or insufficiently provided for certain items.”


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.