The Federal Government has approved a loan of N14.1 billion for Plateau State Government under the Federal Guarantee Conditional Budget Support Scheme.
Plateau State Commissioner for Finance, Hon. Tamwakat Weli, who disclosed this, said the approval was in recognition of the fiscal prudence of Governor Simon Lalong’s administration.
And that the money would be disbursed to the state in three tranches of N1.3 billion for three consecutive months. Thereafter, the balance will be disbursed over a period of nine months in equal amount of N1.1 billion only.
The repayment is secured by future allocations and funds due to the Plateau State from the Federal Government.