Arab Bank, Borno Govt Sign MoU On Economic Development, Rural Transformation

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By; SADIQ ABUBAKAR, Maiduguri 

The Arab Bank for Economic Development  in  Africa  (Arab Bank) has  signed  Memorandum  of Understanding  (MoU) with the Borno State Government  (BOSG) on economic development of the state and extended accelerated rural transformation or development at the grassroots level. 

The Managing Director of the Arab Bank, Dr Sidi Tah made the disclosure during a courtesy call on Governor Professor Babagana Zulum, at the Government house Maiduguri on Friday. 

Dr. Tah also  revealed  that the bank management’s  visit  to Maiduguri was a follow up to an earlier  visit, after the visit the Governor, Prof Babagana Zulum  made to the Bank’s headquarters in Khartoum, Sudan, which was followed  by  the bank’s response to  send a technical team to  Borno State for  assessment of the agreement or partnership  for wider or larger feasibility study.

According to him,  the  outcome and final report of the technical team’s  feasibility study  informed further  negotiations on the agreement  and  what  also prompted the bank’s  team visit to Borno State to formalize and concretize   its  willingness  to  partner with the Borno State Government. 

“We are really delighted to be with you here  today in Borno State as a testimony of the commitment of the Arab Bank for economic development in Africa to the partner  with Borno State.

” The technical team is already on ground in the state,  preparing the pilot scheme for the state, while the bank has  already sent to Borno State, a technical team to prepare a pilot scheme. And that project has already been approved by the bank. With the commitment of the Borno State Government, the Bank will scale up its interventions  to address the need of the people of the state,” Tah  said. 

Responding, Governor  Prof Babagana Zulum appreciated the Managing Director of Arab Bank for Economic Development in Africa and his Team for choosing Borno State for the  project. 

He also assured them his  government’s full support  for proper implementation of the partnership agreement  and  conducive working  environment as well as security. 

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