Socio-Economic Rights and Accountability Project, (SERAP) has urged World Bank President, David Malpass to encourage the Federal Government and 36 state governments to publicly commit to transparency and accountability in the spending of the $114.28m credit and grant for COVID-19.
SERAP also urged Malpass to put pressure on authorities and the 36 state governors to accept voluntary scrutiny by Nigerians and civil society regarding the spending of the funds and use of the resources, including on how they will spend the money to buy medical equipment, and improve access to clean water, sanitation and hygiene.
Recall the World Bank Board of Directors last Friday approved a $114.28 financing to help Nigeria prevent, detect and respond to the threat posed by COVID-19 with a specific focus on state level responses.
According to the Bank, the $100 million credit with Project ID number: P173980, is due to be paid back over 30 years, with additional 5 years grace period.
In the letter dated 8 August, 2020 and signed by SERAP deputy director Kolawole Oluwadare, the organization said: “The World Bank has a responsibility to ensure that federal authorities and state governments are transparent and accountable to Nigerians in how they spend the approved credit and grant.
“The Bank should tread carefully in the disbursement of funds or distribution of resources to states if it is to reduce vulnerability to corruption and mismanagement ” SERAP added.
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