Oyo State Government, yesterday, signed a twin-based Memorandum of Understanding (MoU) with the French government, covering a €50 million loan and an intervention fund for its health and education sectors.
The signing of the MoU at the Executive Chamber, Secretariat in Agodi, Ibadan, yesterday, was witnessed by French delegates and Oyo State functionaries.
The Attorney-General and Commissioner for Justice, Oyewo Oyelowo, said that the concessional loan would help to refurbish the state hospital at Ring Road, and a worthwhile improvement in the state’s education and possible learning of French, one of the globally spoken languages among the citizens.
French Ambassador to Nigeria, Emmanuelle Blatmann, who spoke at the MoU signing ceremony, assured of the flexibility of the facility to the state government, as it is only payable within a period of 40 years, while officially, the repayment commences after 15 years of its acquisition.
Blatmann added that the gesture would engender healthcare, qualitative education and globalisation of the state.
In his remarks, Governor Seyi Makinde said that the loan would boost commerce and labour growth and development, adding that all the general hospitals in the state will benefit positively.
