The Nation Newspaper Tinubu seeks Senate’s nod for $7bn, €100m external loan
on Wednesday urged the National Assembly to approve a request to borrow $7.8 billion and €100 million as part of the 2022-2024 borrowing plan of the federal government.
The president further noted that the African Development Bank and the World Bank Group have indicated interest in assisting the country in mitigating the economic shocks and recent reforms with a sum of $1 billion and $2 billion respectively. He said: “The project cuts across all sectors with specific emphasis on infrastructure, agriculture, health, education, water supply, security and employment as well as financial management reforms, among others.“The total facility of the projects and programmes under the borrowing plan is $7,864,508,559 dollars and then in Euro, 100 million euros respectively.”
Tinubu said: “I would like to underscore the fact that the projects and programmes borrowing plans were selected based on positive technical economic evaluations as well as the expected contribution to the social economic development of the country, including employment generation, skills acquisitions, supporting the emergence of more entrepreneurs, poverty reduction and food security to improve the livelihood of an average Nigerian.
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