Nigeria, Islamic Devt. Bank sign $523.82m cotton, capacity pact

The Minister of Finance, Mrs Zainab Ahmed, Sunday, signed a $523,823 Technical Assistant Agreement grant with the Islamic Development Bank (ISDB) Group, in Marrakesh, Morocco.

This was contained in a statement signed by Special Adviser to the Minister of Finance on Media and Communications, Mr Paul Ella Abechi.

The Minister signed on behalf of the federal government while the President, ISDB Group, Dr. Bandar M. H. Hajjar, signed on behalf of the Group, at the 44th ISDB annual meeting holding in Morrocco.

Speaking after the signing ceremony, Mrs. Ahmed said the grant would be used to address capacity building/equipment and logistics upgrade in the Hajj Commission and for the improvement of cotton, textile and garment value chain in the Federal Ministry of Industry, Trade and Investment.

The National Hajj Commission of Nigeria (NAHCON) is expected to get $243,82 million with $280 million going to the federal ministry of Industry, Trade and Investment gets respectively.

She said, “The Technical Assistant Agreement Grant of $243,823.0 to the National Hajj Commission of Nigeria for capacity building/equipment and logistics upgrade.

“TA grant of $280,000 to the Federal Ministry of Industry Trade and Investment for the improvement of cotton, textile and garment value chain.”

Meanwhile, the Minister told participants at the conference that state governments in Nigeria are doing their best to boost agriculture and food production.

“State governments in Nigeria are adopting cluster farming which has eased access to funds by farmers, increased growth and allows access to facilities without collateral”, she stated.

The conference has as its theme, ‘Transformation In A Fast Changing World: The Road To SDGs’.

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