World Bank Hails Bello Over Refund of $4.63m Surplus projects funds

From Audu Joe, Lokoja

The World Bank has commended Governor Yahaya Bello of Kogi State for good leadership and the refund of $4.63 million surplus funds under the Nigeria Erosion and Watershed Management project (NEWMAP).

The World Bank gave the commendation in a letter of appreciation signed by its Regional Director, Shubham Chaudhuri which was made available to Our Correspondent in Lokoja.

According to the World Bank, the action of Governor Yahaya Bello has made it possible for the Organisation to extend its projects to other States facing deficit funds and to extend the closing date of its projects.

The Letter reads “Letter of appreciation: Refund of surplus project funds to the World Bank under the Nigeria Erosion and Watershed Management project (NEWMAP) (IDA Credits: 62770, 62780).

“I am writing to convey my sincere appreciation for the transfer of the surplus project funds, amounting to USD 4.63 million, that was available in the State’s NEWMAP Designated Account.

“This action was made possible by your Excellency’s leadership, and its timeliness helped the Bank’s decision to extend the closing date of the project from June 30, 2021 to June 30, 2022.

“The returned surplus funds will ensure that other States facing a deficit of funds are able to complete their civil works, while Kogi state focuses on completing its approved ongoing works.

“We look forward to your continued leadership in following up on the progress and completion of such works.

“We trust the project can be brought to an orderly closure in your state, while achieving its intended objective and contributing to transforming lives and alleviating poverty.

“We also take this opportunity to request that you kindly also expedite the issuance of a required Letter of Comfort.

“Assuring the Bank that the state will deploy the necessary funds for completion of any works that may exceed the extended period of the project”.

The World Bank also appreciated Gov. Bello for his support to NEWMAP activities in Kogi State.

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