FG Approves $3.45bn World Bank Loan For Power, Others
The Federal Executive Council (FEC) has approved a $3.45bn World Bank loan application for the financing of five items.
This is according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who spoke after the FEC meeting in Abuja on Monday.
He said the council approved the loan request during its meeting at the State House, adding that the Federal Government would begin to receive the $3.5bn “zero-interest” loan.
According to him, the loan is payable within 40 years with a 10-year moratorium which means payments would start from 2033.
FG Approves $3.45bn World Bank Loan For Power, Others
The Federal Executive Council (FEC) has approved a $3.45bn World Bank loan application for the financing of five items.
This is according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who spoke after the FEC meeting in Abuja on Monday.
He said the council approved the loan request during its meeting at the State House, adding that the Federal Government would begin to receive the $3.5bn “zero-interest” loan.
According to him, the loan is payable within 40 years with a 10-year moratorium which means payments would start from 2033.
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