FG to borrow $7.9bn from World Bank, ADB, others (Cut NASS Salaries instead)
Latest Politics Tuesday, February 14th, 2012The Federal Government on Tuesday sough approval from the National Assembly for its intention to borrow $7.9 billion from the World Bank, African Development Bank, Islamic Development Bank, EXIM Bank of China and Indian lines of credit.
The intention was conveyed in separate letters to the Senate and House of Representatives by President Goodluck Jonathan.
The President indicated that the funds would be used to cover pipeline projects in the 2012-2014 External Borrowing Plan.
Under the plan, government will borrow $2.64 billion annually.
-Punchwp_posts
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Posted by admin
on Feb 14 2012. Filed under Latest Politics.
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