Why Weβre Borrowing $17bn From China β FG
February 5, 2020
6:10 am
The Federal Government, yesterday, said it opted to approach the China-Exim Bank for a $17 billion loan request when other lending institutions like the World Bank and the African Development Bank were unwilling to assist.
Minister of Finance, Zainab Ahmed, stated this when she appeared before the Senate Committee on Local and Foreign Debt. She appeared to defend Federal GovernΒ $29.96 billion loan in order to fund critical infrastructure across the country.
She explained that the 8th National Assembly had approved about $6 billion for the Federal Government out of the $29.96 billion loan leaving a balance of $22.8 …
