Nigerian Government Secures $750m World Bank Loan for Power Projects 

The World Bank Group has approved a loan of $750m to boost Nigeria’s power sector. <br />The loan with project ID P174622 was approved on June 9, 2023, making it the first World Bank loan approved under the new administration of President Bola Tinubu. <br />It was also disclosed that out of the $750m initially approved in 2020, only 72 per cent of financing of $535.09m was disbursed, with the balance expected by June 30, 2023, for the parent project. <br />International Bank for Reconstruction and Development will provide $449m for the newly approved additional financing, and International Development Association will provide $301m.<br /><br />This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at <a href="https://www.spreaker.com/show/4166630/advertisement">https://www.spreaker.com/show/4166630/advertisement</a>