text: Only prudently managed states can access foreign loans – Edo govt – OSBC
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  Only prudently managed states can access foreign loans – Edo govt
  In a statement made by the Special Adviser to the Edo State Governor on Media and Communication Strategy, Mr. Crusoe Osagie, said the state government prioritizes sustainable development and judicious use of state funds, which is what, has enabled it to promptly access the low-interest credit from multilateral organizations.
  According to him, foreign credits usually come with single, lower digit interest rates, ranging from one to five per cent. They carry many years of moratorium, that is, a period within the tenure of the loan when the borrower is not required to make repayment. This gives the borrower more time to bring development to the people and therefore increase the capacity to repay the loan.