Oyo state government has signed a twin- based Memorandum of Understanding (MoU) which gives the State access to a facility of 50 million Euros to upgrade the healthcare infrastructure and improve the education sector in the state.
The signing of the memorandums of understanding (MOU) was held at the Executive Chamber, State Secretariat, Ibadan, on Thursday.
The state also signed a Memorandum of Understanding on French Language Promotion in “Oyo State as we continue to build on this mutually beneficial relationship.
“The MOU includes signing of the Commercial Agreement on the healthcare project tagged “Oyo Healthcare New Initiative,” and a Memorandum of Understanding on French Language Promotion in Oyo State.
In his address, Attorney general and commissioner for justice, Oyewo Oyelowo said the concessional loan will help to refurbish the state hospital at Ring Road, and engender a worthwhile improvement in the state’s education and possible learning of French language.
Speaking, French Nigeria- ambassador, Emmanuelle Blatmann assured of flexibility of the loan to the state government, saying 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, 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.