Home News Jigawa receives $37m loan from Islamic bank

Jigawa receives $37m loan from Islamic bank

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Jigawa State government has received loan of over thirty-seven million dollars from the Islamic Development Bank for implementation of state-integrated rural development projects.

Governor Muhammad Badaru Abubakar announced this on Wednesday at the official launching of the program held at State Agricultural and Rural Development Agency JARDA, Dutse.

He said the loan is aimed at consolidating on what the state had achieved on the area of Agriculture and Jobs creation in the last four years.

Badaru said the project will provide direct and indirect jobs to more than two million people of the state.

The Governor explained that the project consists of four different components including; irrigation support, productivity enhancement and value chain development support, business development and micro Bank finance support.

“The project would support a number of areas in the agricultural sector, such as irrigation, fishing, rearing, infrastructural development of land, loan to farmers, construction of feeder roads, construction of markets and demarcation of cattle routes” he stated.

Badaru said State Government will support some banks to administer loans to small farmers and entrepreneurs.

He assured the beneficiaries would payback as the state had recorded 75% to 80% loan recovery on all its previous programs.

Representative of Islamic Development Bank, Mr Mayo Miyary assured their full support and cooperation to government policy on agriculture.

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