World Bank approves $3 billion loan for Nigeria to spend on electricity, minister of finance Zainab Ahmed says in Washington

81,885FansLike
2,966FollowersFollow
3,980SubscribersSubscribe
81,885FansLike
3,122FollowersFollow
3,980SubscribersSubscribe

The Nigerian Minister of finance Zainab Ahmed announced on Sunday that the World Bank had approved $3 billion loan for Africa’s most populous nation to expand its electricity transmission and distribution infrastructure.

- Advertisement -

Speaking at a press conference in Washington D.C. at the end of the 2019 World Bank and International Monetary Fund Meetings, Zainab Ahmed said the loan will be released in four tranches of $750 million each and could be expanded to $4 billion.

The money, she said, would also be used to pay previous loans in the power sector.

- Advertisement -

[read_more id="2" more="Read full article" less="Read less"]

Officials from the Ministry would be at the World Bank in April to receive the first installment of the loan, she said in her remarks and in questions and answers session.

- Advertisement -

[/read_more]

- Advertisement -
IMG 2787 scaled
Simon Ateba
Simon Ateba covers the White House, the U.S. government, the International Monetary Fund, the World Bank and other financial and international institutions for Today News Africa in Washington D.C. Simon can be reached on simonateba@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

TRENDING

00:13:26

EXCLUSIVE: Amnesty International urges Biden to call out Al-Sisi over “vicious crackdown” in Egypt

Written by Simon Ateba and Kristi Pelzel in Washington D.C. Amnesty International on Wednesday urged U.S. President Joseph R. Biden Jr. to call out President Abdel Fattah Al-Sisi of Egypt over what it described as "a vicious crackdown against activists, media, and people who do not align with views of the state or his religion." <img src="https://todaynewsafrica.com/wp-content/uploads/2020/10/26539495495_bc64347012_c.jpg" alt="Egyptian President Abdel Fattah al-Sisi sits with U.S. Secretary of...

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

error: Alert: Content is protected !!
Share
Tweet
Reddit
Pocket
Share
More