B’Haram: World Bank to rebuild N’East with $2.1bn

The World Bank yesterday unfolded a comprehensive plan for a Marshal Plan that will gulp $2.1 billion for the rehabilitation of the North- East ravaged by the Boko Haram insurgency.
The bank, at a meeting in Washington DC with representatives of the Bill and Melinda Gates Foundation and the World Health Organization (WHO) which was also attended by President Muhammadu Buhari, said apart from rebuilding the region in terms of infrastructure, priority would also be given to the resettlement of internally displaced persons (IDPs).
According to the United Nations, at least 1.5 million people have been sacked from their homes since Boko Haram launched its insurgency in 2009. The meeting was part of activities lined up for Buhari, who on Sunday began a four-day visit to the United States.

The $2.2 billion already earmarked by the World Bank will be spent through its International Development Agency, which gives low interest loans to government. The first 10 years will be interest-free, while an additional 30 years will be at an interest rate lower than prevailing capital market rate. A statement by Buhari’s Special Adviser on Media and Publicity, Mr. Femi Adesina, said the World Bank was eager to quickly give succour to the people of North-east, who have been at the mercy of the insurgency that has killed over 20,000 people.
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