The Socio-Economic Rights and Responsibility Project (SERAP) called on the World Bank to ensure that the $114.28 million of loans it has granted to Nigeria are transparently spent on the planned COVID-19.
In an open letter to World Bank President David Malpass, SERAP suggested that he use his “good offices” to inspire the federal government and the 36 state governments to make a public commitment to transparency and accountability in credit spending, among others, by publishing the main points on a committed website.
The group, in a letter dated August 8, 2020 and signed through its deputy director, Kolawole Oluwadare, suggested to Malpass that “pressure the government and the 36 state governors to settle for a voluntary review through Nigerians and civil society related to budget spending. and the use of resources, adding how they will spend the cash to buy medical devices and access to safe drinking water, sanitation and hygiene.
The World Bank’s Executive Board on Friday approved the appropriations of $114.28 million “to help Nigeria prevent, trip and respond to the risk posed by COVID-19 with a specific response at the state level.”
According to the World Bank, credits must be repaid in 30 years, with an additional grace period of five years.
SERAP said the World Bank has a duty for federal and state governments to be transparent and accountable to Nigerians in the way they spend money.
According to SERAP, 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.
The organization also expressed serious considerations that cash and resources can be stolen, embezzled, or mismanaged through state governors without effective mechanisms of transparency and accountability, i.e. with care to develop corruption allegations and mismanagement of COVID-19’s budget through federal and state agencies. impunity for perpetrators. »
The letter copied to Shubham Chaudhuri, the World Bank’s national director for Nigeria, said in part: “Implementation of these recommendations would prevent him from repeating the alleged diversion and mismanagement of the recovered loot from Abacha paid through the federal government to state governments.
“The World Bank makes it clear to all governors that it will cancel credits and subsidies if they fail to meet their commitments to be transparent and responsible for spending cash and using resources exclusively for COVID-19 projects, and not stealing, diverting, or misadministering them.”
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