World Bank to rescue Oyo from flood disaster with $200m
The World Bank has indicated its readiness in addressing the challenges associated with the flood disaster that occurred in Oyo State in 2011 which claimed several lives and property.
A total of $200 million is to be committed to the project, while the state government will add its own counterpart funding of $20 million.
Besides, Oyo has also been selected as the first state to be equipped with an early flood warning system by the bank as a way of addressing the perennial flood in the state.
The Leader of the World Bank team on Ibadan Urban Flood Management, Dr. Sateh Chafic El-Arnaout made the disclosure while briefing newsmen shortly after the submission of the report of the team to the state governor, Senator Abiola Ajimobi in his office on Wednesday.
Dr. El-Arnaout said that after the team had thoroughly under-studied the 2011 flood disaster in Ibadan, the World Bank would be ready to partner with the state government in preventing a reoccurrence of the incident.
He explained further that the project would be executed with $200 million from the World Bank and $20 million counterpart funding from the state government.
The team leader added that as the project progressed, an independent monitoring group would be instituted to access it in terms of quality and cost effectiveness, stressing that without completely addressing flood risk in Ibadan, the economic interest of the state might be jeopardized.
The Coordinator of the project, Dr. Dayo Ayorinde said that for the success of the project, Ibadan City master plan, drainage master plan and solid waste plan would be provided.
