Public agitations against rising foreign debts have put pressure on the Federal Government to ensure prudent utilisation of foreign loans, even as it has set up a task force on disbursement on Donor-Funded Projects.
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said this while addressing members of the federal legislature at a retreat in Lagos, yesterday.
Her words: “It is public knowledge that there have been increased public agitations against rising foreign debts levels. This has put immense pressure on government to ensure prudent management of resources, improve transparency and accountability in the utilization of funds from donor agencies for maximum positive impact on the economy.”
She said donor financing, especially from multilateral bodies such as the World Bank and the African Development Bank, was one of the critical sources of funds for the execution of key projects in the country, and noted that the nation was not receiving the best from the implementation of donor financed projects.
