Nigeria Almost Set To Get A $1.5bn Loan From The World Bank

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Zainab Ahmed, Nigerian’s Finance Minister has disclosed that Nigeria has met the terms of receiving the loan from the World Bank and the process is in the final stages of approval.

The minister has also revealed that the board of directors of the bank would meet in the near future on the $1.5bn loan that Nigeria would like to lend from it and that it would be able to approve the loan at the meeting.

Before now, Finance Minister, Zainab Ahmed had projected the country’s economy to shrink as much as 8.9% in 2020.

The World Bank also expects Nigeria’s economy to shrink by between 3.2% and 8% in 2020, and government oil revenues could fall by a third or possibly more than half.

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