Advertisement

World Bank ‘agrees’ to give Nigeria $2.5bn loan

World Bank ‘agrees’ to give Nigeria $2.5bn loan
February 15
14:10 2017
Advertisement

The International Bank for Reconstruction and Development, better known as the World Bank has agreed to give Nigeria $2.5bn loan.

One of the conditions for the release of the initial tranche of $1.5bn is a reform of Nigeria’s Forex market.

Business Day, a leading newspaper, tweeted this on Wednesday.

Since January 2016, the federal government has been in talks with the bank on the loan.

After a meeting with the executive of bank in Washington DC in May, Kemi Adeosun, minister of finance, said the loan was required to bridge the N1.8trn  deficit in the budget, and also to fund infrastructural projects.

“We had discussions with the World Bank around our budget support request and we have been able to have very productive meetings to understand what the next steps are in the process and we are very positive of a good outcome,” she had said.

RECEIVE ALERTS FROM THECABLE

WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2019 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Tags
Advertisement

Social Comments

1 Comment

  1. Ebynwa
    Ebynwa August 17, 11:35

    I no see anything and I need the money

    Reply to this comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement
Advertisement

Exchange Rates

November 06, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement