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Afdb Approves $1b Loan To Nigeria by dondo83(m): 5:48pm On Sep 26, 2016 |
African Development Bank (AfDB) has
approved $1 billion loan towards meeting the
deficits in Nigeria’s 2016 Budget, believed to
partly responsible for the country’s economic
crisis.
The loan is provided at 1.2 percent interest
rate.
AfDB President, Dr. Akinwunmi Adesina,
disclosed these to State House correspondents
on Monday after meeting with Vice President
and other members of the Economic
Management Team (EMT) at the Presidential
Villa, Abuja.
Stressing that Nigeria is the largest
shareholder of the bank, Akinwunmi said the
bank is in Nigeria to offer its strong support to
the country as it faces tough time.
He said: ” African Development Bank (AfDB),
we have a very strong delegation team to meet
Vice President and the economic management
team. The bank’s largest shareholder is
Nigeria. It is very important for me to be here
and to talk to the Nigerian government about
the challenges and opportunities that are in
Nigeria.
“I think the times are difficult and there is no
doubt about that. But I want to commend the
government for being bold in taking the right
decisions. I think that the fact that the price of
crude oil has gone down, is a big challenge
because you have 98 per cent external forex
revenue coming from the sector.
“So it has created calibrations, I’m not going
to go into the details of all the problems but
what is important is what we are going to do
about it.
“I’m not here to lecture the Nigerian
government. I’m here to support very strongly.
We have said that we are going to support the
Nigerian government with the budget support
to be able to deal with some of fiscal
imbalance that they have. We are looking to
consider for an award of $1 billion to help to
deal with that particular deficit.” http://thenationonlineng.net/afdb-approves-1bn-loan-nigeria/ |
Re: Afdb Approves $1b Loan To Nigeria by veacea: 5:49pm On Sep 26, 2016 |
Adesina has done it |
Re: Afdb Approves $1b Loan To Nigeria by daniska3yaro(m): 5:59pm On Sep 26, 2016 |
Hmmm |
Re: Afdb Approves $1b Loan To Nigeria by Mynd44: 6:00pm On Sep 26, 2016 |
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