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Nigeria: Despite $81bn Debt Burden, Nigeria Seeks $2.5bn World Bank Loan
This Day, 20 September 2019
Nigeria and the World Bank have begun talks for a loan of $2.5 billion in a new tranche of concessionary lending by the multilateral financial institution. Read more »
Nigerian Govt Seeks Fresh U.S.$2.5 Billion World Bank Loan
Hafez Ghanem, World Bank's Vice-President for Africa, says the organization is in talks with the Nigerian government for a U.S.$2.5 billion concessionary loan. In the past year, Nigeria has received U.S.$2.4 billion from the World Bank, but faced shortfalls in revenue, due largely to the drop in oil revenues. To ease the mounting debt burden, Nigeria has sought more credit with low interest and long repayment periods from institutions including the World Bank and the African Development Bank.
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Nigeria: Govt Seeks Fresh U.S.$2.5 Billion World Bank Loan
Daily Trust, 20 September 2019
The Federal Government and World Bank are in talks for as much as $2.5 billion in a new tranche of concessionary lending to Nigeria, the bank's Vice President for Africa Hafez… Read more »
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Nigeria: Heeding the World Bank Warning
This Day, 16 September 2019
It is in the nation's interest to listen to the international financial institution Read more »
InFocus
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The World Bank said it had approved the loan to fund projects aimed at improving access to electricity and promoting governance. Read more »
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The World Bank report shows that Nigeria scored high as it made improvements in ease of starting a business, getting electricity Read more »
