Nigeria seeks fresh $2 5 billion from World Bank.

The World Bank’s vice president for Africa, Hafez Ghanem says the organization is in talks with Nigerian government for $2.5 billion concessionary loan. Nigeria has received U.S $2.4 billion from the World Bank in the past year, but faced  shortfalls in revenues, due to largely on drop of oil revenues. Nigeria has sought more credit with low interest and long repayment periods from institutions including World Bank and African Development Bank to ease the mounting debt burden.


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