2018-2020 Borrowing Plan: Reps Approve Federal Government’s Loan Request Of $5.8bn

The House of Representatives has approved President Muhammadu Buhari’s loan request of 5.8 billion dollars, following the adoption of the report of the House Committee on Aids, Loans and Debt Management on Tuesday in Abuja.

Chairman of the Committee Ahmed Safana, while presenting the report, said that the loan was part of the Federal Government’s 2018-2020 external borrowing plan.

He added that the loan would be sourced from financial institutions like the World Bank, the Islamic Development Bank, China Exim bank, Chinese Africa Development Fund and International Fund for Agricultural Development.

The House while approving the loan, requested that the terms and conditions from the funding agencies be forwarded to the National Assembly for proper scrutiny.

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