Nigeria Gets New World Bank Aid

The World Bank will lend USD3 billion to help Nigeria enhance its infrastructure. The fresh funding will be made available from 2009 to 2011 and is tied to education, health, roads, and agriculture projects. “The USD3bn for three years is a concessionary loan with zero interest rate … The loan has been offered to Nigeria because of the massive improvement in the economy,” according to World Bank country director in Nigeria, Onno Ruhl. (“Infrastructure: World Bank offers Nigeria fresh USD3bn loan” - Punch, Nov. 10, 2008)

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