Reactions Trail Anambra Loan Acquisition From Creditor Institutions

Following the move by Anambra state government to secure loan from creditor institutions to develop the state capital projects, stakeholders have described the act as insensitive and should be discouraged by the state house of assembly.
They called on the state legislative arms of government to weigh the consequences of such borrowing with higher interest rate, capable of slowing down developmental paste of the state infrastructure, if such funds are not properly utilized.

Some are of the opinion that the state government should have embraced the bailout grant of the federal government with no significant interest rate attached to each loan, than the proposed loan from creditor institutions, whose interest has been to underdeveloped the third world economy.
 They called on the state house of assembly to consider the consequences of the continued borrowing and its effect on the state economy in the future by standing up to their civic responsibility to discourage the executive from patronizing creditor institution for borrowing when a zero interest loan is set aside by the federal government and many states are currently benefiting from the scheme.
Recently, Anambra state commissioner for information and strategy, Tony Nnecheta in media chat in Awka, disclosed that the state government has no plan to secure loan from any creditor institution.


Related Post