The Oyo State Government signed a Memorandum of Understanding (MoU) with the French government Wednesday, including a €50 million loan and an intervention fund for the state’s health and education sectors.
The MoU was signed yesterday at the Executive Chamber, Secretariat in Agodi, Ibadan, in the presence of French delegates and Oyo State functionaries.
Oyewo Oyelowo, the Attorney-General, and Commissioner for Justice stated that the concessional loan would help to refurbish the state hospital on Ring Road, as well as a worthwhile improvement in the state’s education and possible learning of French, one of the globally spoken languages among citizens.
The French Ambassador to Nigeria, Emmanuelle Blatmann, who spoke at the MoU signing ceremony, assured the state government of the flexibility of the facility, as it is only payable after 40 years, while repayment formally begins after 15 years of acquisition.
Blatmann went on to say that the gesture will promote healthcare, quality education, and the globalization of the state.
Governor Seyi Makinde stated in his remarks that the loan will stimulate commerce and labor growth and development and that all general hospitals in the state will gain.
