• AfDB gives $600m to support Nigeria’s budget

    AfDB gives $600m to support Nigeria’s budget

    According to reports, the African Development Bank’s board has approved a $600 million loan for Nigeria on Wednesday aimed at helping the nation to address its budget deficit, a senior bank official said.

    The loan is the first tranche of a total $1 billion budget support package. The second disbursement of $400 million is dependent upon the implementation of reforms, the bank’s Nigeria country director, Ousmane Dore, said.

    Dore said one of the main triggers for the release of the remaining tranche […]