Federal Government in $1 billion loan from World Bank

Federal Government in $1 billion loan from World Bank

The Minister of Finance, Mrs. Zainab Ahmed has disclosed that the federal government has commenced discussion with the World Bank with a view to take a $1 billion loan for the development of the power sector.

Meanwhile, Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, has said that the current foreign exchange stability in the economy would attract more foreign investors.

The Minister and the CBN Governor spoke at the press briefing marking the end of the 2019 Spring Meetings of the World Bank and the International Monetary Fund, IMF, in Washington DC, USA, yesterday.

Emefiele has said that the various monetary policies put in place by his team have increased investor confidence in the nation’s economy. Emefiele added that the nation was also on track towards achieving the 80 per cent financial inclusion target by 2020. He discloses that the nation had achieved over 60 per cent and that he was optimistic that the various strategies put in place to achieve the target would be successful.

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