The Taraba state House of Assembly has consented to a request by the Executive Governor of Taraba state, Arc. Darius Dickson Ishaku, for a term loan of N600, 000,000:00 and a guarantee from the Zenith bank PLC, to finance Taraba state government 50 per cent counterpart contribution for the implementation of the 2015 MDGs projects in the state.
In a letter addressed to the Honorable Speaker of the House, dated 22nd February 2016 and signed by the Executive Governor, Taraba state, Arc. Darius Dickson Ishaku, read thus: “following the receipt of six hundred million naira from the federal government through the conditional grants scheme [CGS] of the Millennium Development Goals [MDGs], the state government is expected to provide an equivalent amount N600,000,000:00 as counterpart fund as a condition for assessing the federal government matching grant”.
The letter further stated that the said amount was payable in 90 days.
Added to that, the House was also ‘requested to issue a resolution authorizing the issuance of a twelve month Bank Guarantee‘ covering the Federal Government funds for the state track by Zenith Bank Plc. on behalf of Taraba state government.
In a plenary sitting presided over by The Speaker, Mark Bako Useni, the request was granted by a unanimous resolution of the House.
The Speaker then directed the Clerk of the House to communicate to the Executive Governor on the new development.