World Bank to Decide Nigeria’s $1.5bn Loan July, Says Country Rep via thisdaylive
The World Bank expects to make a decision in late July on a $1.5 billion loan to support Nigeria as it fights the novel Coronavirus, Reuters quoted the Bank’s country director to have said in an interview yesterday.
“We were hoping to present to our board by late July or latest early August, because the government will need the finance,” Shubham Chaudhuri, its Nigeria country director, told Reuters. On Thursday, Nigeria’s Finance Minister, Zainab Ahmed said the economy could shrink as much as 8.9% in 2020. The Bank’s lead economist on Nigeria, Marco Hernandez, said even if the outbreak were contained, the situation was “unprecedented, shocking.”
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