Edo, Model For Dev Funding – World Bank

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Following the successes recorded in executing major infrastructure and social development projects in the state, especially the Edo-Azura Power Project, the World Bank has said that Edo State has become a model for development financing at the sub-national level in developing countries.
World Bank Executive Director, Angola, Nigeria and South Africa sub-group, Ms. Bongi Kunene, gave the verdict during a lunch organised for 10 visiting World Bank Executive Directors, at the Government House, Benin City, the Edo State capital.
She said that the Bretton Woods institution was impressed with the level of work done through its various projects as well as the partnership that birthed the Edo-Azura Power Project.
Noting that the state was among the two sub-national governments that accessed its budget support instruments, she said the projects executed in the state were not just impressive but meet the expectations of the visiting delegation.
She added that the World Bank was willing to “partner with the state on future projects, as long as the projects are in line with the Bank’s focus.”
On the Edo-Azura Power Projec t, she said, “The project is transformational. It gives us a scope of what we can do together. We are delighted to see solutions. We would want to commit ourselves to projects that make sense and are in line with our focus.”
She said more of such projects could be executed if governments are willing to cooperate with the bank in granting necessary approvals, allowing for thorough impact assessment and are open to multilateral financing arrangements.
Edo State Governor, Mr Godwin Obaseki, on his part said that with the 450MW Edo-Azura Power Project now on stream, the state wanted more investors for the Benin Industrial Park and technology innovation hubs.