The Nigeria Presidency on Saturday listed 15 projects, spread across the six geo-political zones of the country that are to be financed with more than $4 billion loan from multilateral institutions, under the 2018-2021 medium term (rolling) external borrowing plan.
President Muhammadu Buhari had requested the Senate to approve sovereign loans of $4.054bn and €710million as well as grant components of $125m for the proposed projects.
According to the letter sent to the National made public in a statement by Garba Shehu, the spokesperson for President Muhammadu Buhari, the sovereign loans will be sourced from the World Bank, French Development Agency (AFD), China-Exim Bank, International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chartered/China Export and Credit (SINOSURE).
Garba also noted that the President’s request to the Senate listed 15 proposed pipeline projects, the objectives, the implementation period, benefiting States, as well as the implementing Ministries, Departments and Agencies (MDAs).
