Finance
Nigeria Is Yet To Recieve $5.83bn Foreign Loans – Debt Management Office
Debt Management Office (DMB) said the country is yet to receive the $5.83bn foreign loans that have been approved since December 31, 2020.
The loans are from the Export-Import Bank of China, Agence Francaise De Development, International Development Association, European Development Fund and African Development Bank.
The loans were agreed between 2016 and 2020 for 28 projects.
Undisbursed Loan from China stood at $1.25 billion and 2.3 million yuan.
$3.27bn unexpected Loans from the International Development Association, a member of World Bank Group, DMO was supposed to fund 13 projects.
More than 500 million Euros is still expected from Agence Francaise de Development to fund four projects.
Three projects will get the attention of Africa Development Bank $210 million, and 11.89 million units of account.
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