Posted 10/16/2023, 11:09:44 PM
Nigeria Secures $1.58 Billion in Low-Interest Loans from World Bank, AfDB for Development Projects
- FG secured $1.5bn loan from World Bank and $80m from AfDB for projects in critical sectors
- Loans termed "relatively cheap" due to Nigeria's recent macroeconomic moves per Finance Minister
- World Bank loan to support reform efforts and be dispersed before end of 2022
- AfDB loan to fund Ekiti Knowledge Zone Project for young people in tech/communications
- Presidential Council on Industrial Revitalisation Roadmap created, chaired by President Tinubu
