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.