Oyo State Government has signed a twin- based memorandum of understanding with the France Government covering a 50 million euro loan and an intervention fund for its health and education sectors.
The memorandums of understanding (MOU) signature was held at the Executive Chamber, secretariat Agodi Ibadan on Thursday witnessed by French delegates and Oyo state’s functionaries.
In his address, the Attorney General and Commissioner for Justice, Oyewo Oyelowo said the 55million euro concessional loan will 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.
Speaking, French Nigeria- ambassador, Emmanuelle Blatmann assured of flexibility of the loan 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 such a gesture is extended to an African country in the thirty years, noting that it will engender healthcare, qualitative education and globalisation of Oyo state.
In his remarks, Oyo state governor, Seyi Makinde mentioned that the loan as will boost commerce and labour growth and development , with its interest rate of 0.0009.
Makinde added that all general hospitals in the state to include Oyo, Igbeti, Ogbomoso will be affected positively.
Present at the event include the PDP deputy chairman (South), Ambassador Taofeeq Arapaja, former Oyo speaker, Monsurat Sunmonu, French delegates, commissioners among others