One hundred and fifty million dollars of the sum was secured from the African Development Bank while the remaining one hundred million dollars was gotten from the African Development Finance.
The monies would go into the funding of projects and programmes related to rural water supply and sanitation.
Another grant of five million Euros will also go into funding inclusive basic service delivery and integrated livelihood empowerment programmes in five states of the North East.
The approval by the Federal Executive Council during its meeting yesterday followed a memo presented to the Council by the Minister of Finance, KEMI ADEOSUN.
The Minister explained that over two point three million internally displaced persons affected by the Boko Haram insurgency would also benefit from increased access to basic social services in the areas of potable water supply, sanitation, health care delivery and education.
She listed other areas covered by the programme to include entrepreneurship development, job creation and livelihoods for youth.
There are also provisions to better the lot of women and the vulnerable, in addition to promotion of social cohesion and physiological support.
A statement released by the Director of Information of the Finance Ministry, SALISU SALEH NA’INNA, further disclosed that the multi-sectoral programme would be implemented in Adamawa, Borno, Gombe, Bauchi and Taraba States.
The programme is design to run for a period of five years, starting from this year, through December 2021.
It also noted that the loan would be repayable in twenty-five years, with a highly concessional interest rate.
