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Nigeria secures $2.5b World Bank loan for infrstructure
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Nigeria secures $2.5b World Bank loan for infrstructure

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The World Bank has agreed to give Nigeria $2.5bn loan.

According to Minister of Finance, Kemi Adeosun, the loan is meant to bridge the N1.8trn deficit in the budget, and also to fund infrastructural projects

One of the conditions for the release of the initial tranche of $1.5bn is a reform of Nigeria’s Forex market.

The Nigerian government has been in talks with the bank on the loan since January 2016.

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