Anambra State Governor, Chukwuma Soludo said his administration pulled out of an existing loan arrangement with the World Bank to save the state from “debt overhang.”

Mr Soludo said this while addressing members of the late Senator Ifeanyi Ubah Media team who were on inspection of the ongoing Government House and Governor’s Lodge project in Awka on Sunday.

He said his administration had not only refused to borrow from any bank or institution but also refused to access the Federal Government loan to states in 2024.

He said that notwithstanding the development, his administration had embarked on ambitious and people- oriented projects which were at various stages of completion.

According to him, Anambra is the only state that pulled out of an existing World Bank loan agreements signed before he came into office.

“I looked at the terms of the loan and I said it was not sustainable; it was easy to continue with it because the next generation will pay but based on the terms, it was a bad deal for Anambra. Last year N438 billion was distributed to 35 states, Anambra was the only state that did not take it. I need money but I cannot borrow my state into slavery,” he said.

Mr Soludo said he was giving Anambra a permanent Government House and Governor’s Lodge 34 years after it was created.

He said that it was a magnificent project with about 34 buildings which were being built to last, such that in the next 200 years, they would still be standing like the White House in America.

“I said we are going to break the jinx and we are doing that with the biggest and the best that somebody said is going to be like a mini city,” he said.

Soludo said he had done over 750 kilometers of roads with about 410km completed with attention to parts of the state that had not seen tarred roads since their existence.

“We have touched education, health, youth empowerment, social reorientation and bringing back our value of dignity in labour against this new get-rich-quick mentality that is destroying our youths. I told Anambra people when I was sworn in that I will show them where every kobo they gave me is channelled,” he said.

The leader of the Ubah media team Kamen Ogbonna said they were impressed with what the governor was doing as it aligned with their philosophy.

Ogbonna said it was interesting to note that Mr Soludo had made such progress in three years without borrowing from any source.

“The magnitude of the Government House and Governor’s Lodge will tell you why other governors carefully avoided the project,” he said.

Nollywood stars including Steve Alajemba (Uwaezuoke) and Collins Monago who were on the trip lauded Mr Soludo for his works and urged Anambra people to support him to continue the good job as they prepare for the November 8 governorship  poll.

(NAN)