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Saturday, 14 November 2020

COVID-19: FG Seeks $750m Loan From World Bank

Zainab Ahmed

Minister of Finance, Budget, and National Planning, Zainab Ahmed has revealed that the Federal Government, is in the process of acquiring a 750 million dollar loan, from the world bank.

The Minister revealed that the loan is for states to mitigate the effect of the COVID-19 pandemic on the economy.

According to the minister, the loan aims to stimulate the local economy and support vulnerable household consumption.

Also Read: Buhari Signs Banks And Other Financial Institutions Act 2020

Mrs. Ahmed made this known at the inauguration of the Federal Steering Committees of the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) program, in the nation’s capital.

The minister noted that the federal government has created windows of intervention, as captured in the economic sustainability plan inaugurated by President Muhammadu Buhari, in March 2020.

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via: Information Nigeria

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