Anambra State Governor, Chukwuma Soludo, has said that his administration rejected an existing World Bank loan agreement to prevent the state from falling into a debt overhang.
Soludo said this to newsmen on Sunday during an inspection tour of the ongoing Government House and Governor’s Lodge project in Awka, saying that his government has not borrowed from any financial institution and has also declined the Federal Government’s loan offer to states in 2024.
He says that Anambra is the only state that withdrew from a pre-existing World Bank loan arrangement, which was signed before he took office, saying he found the loan terms unsustainable after he reviewed them.
He says his administration remains committed to ambitious, people-oriented projects despite refusing to take on additional debt.