Finance Minister Explains Why Nigeria Is Borrowing $3b From World Bank - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
October 17, 2019
The Minister of Finance, Budget and National Planning Zainab Ahmed has said the three billion dollars loan from the World Bank would be used for power sector reforms.
She said this during an interviewwith newsmen on the sidelines of the World Bank/International Monetary Fundmeetings holding in Washington DC, United States.
Zainab, who is leading the Federal Government’s delegation to the meeting said she would be holding further discussions with the management of the Bank to present how the fund would be disbursed for the project.
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She said based on the plan of theGovernment for the power sector, the loan would be used for the development oftransmission and distribution networks to enhance the delivery of electricity.
The Minister also said the loanwould be used in addressing some of the challenges that the country iscurrently facing in the power sector. She added that there is a proposed twopoint five billion dollars to three billion dollars facility for the power sectordevelopment programme.