President Buhari Requests Fresh Loan Of $4bn And €710m

President Muhammadu Buhari has written to the National Assembly, seeking approval to borrow the sum of $4,054,476,863 and €710 million.<br />President Buhari explained that owing to emerging needs there is a need to raise more funds for some critical projects.<br />He says the projects listed in the addendum to the 2018-2021 Federal Government External Borrowing Plan, are to be financed through sovereign loans from the World Bank, French Development Agency, China-Exim Bank, International Fund For Agriculture Development, Credit Suisse Group and Standard Chartered/China Export and Credit in the total sum of USD4 billion plus Euro 710 million grant component of USD 125,000,000.00.