The Federal Executive Council, yesterday, accepted a $3.45 billion loan proposal to fund five projects.
Projects in the power industry, renewable energy, state resource mobilisation, teenage girls’ initiative for learning and development, and a women’s empowerment project are among them.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, told State House correspondents that the FG will accept the $3.5 billion “zero-interest” loan with a 10-year moratorium, with payments beginning in 2033.
The Finance Minister went on to say that the $700 million girls’ program would help young girls in secondary school gain marketable skills in addition to their academic successes.
Edun put a price tag on the project, saying, “$700m is the size of the current project.”
