The Presidency said on Monday that the World Bank has pledged to make available the sum of $800 million towards the rebuilding of the north-eastern state ravaged by the Boko Haram insurgents.
This was contained in a statement issued by the Senior Special Assistant on Media and Publicity in the office of the Vice President, Mr. Laolu Akande.
Akande said federal government, United Nations and European Union have intensified efforts to rebuild the north-east region.
He said a pre-financing assessment jointly carried out by the federal and states governments alongside the global partners was completed at a workshop held in Abuja last week.
The statement reads in part: “The global partners who had signed a tripartite agreement to facilitate the assessment are now expected to support the federal government in the financing of the NorthEast reconstruction including an offer by the World Bank to make available $800 million towards the rebuilding.
“There are also clear indications from the global partners to do more in terms putting in place an institutional framework to rebuild, arranging financing even from other development agencies and additional sources.
“The assessment and validation exercises completed in Nigeria’s North-East region has revealed the quantum of damage and the requirements to address the post- conflict recovery. For instance while the extent of damage was put at about $9B, the assessment revealed that over $6B would be needed for immediate and near term stabilization and recovery of the region.”
According to the statement, the joint efforts of the federal and state governments with the global partners would now be directed to prioritizing the needed interventions and projects, arranging their sequence and coming up with an action plan.
The statement said the three–volume report of the Nigeria Recovery and Peace Building Assessment (RPBA) recommended a two-phase strategic plan of two years for stabilization and a recovery phase of two years to restore the North-East to progress and development.
“The two phases of stabilization and recovery are fluid and will run concurrently, covering such areas as agriculture, housing, transportation and education over the period.
“The Nigeria Recovery and Peace Building Assessment is the process that assesses the physical, social and economic impacts of the crisis in the North-East, resulting in a report to guide the process of stabilization in the region through a variety of recovery strategies. These strategies will help reduce suffering in affected communities, restore a sense of normalcy and regain the trust of people in the region,” the statement said.
