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    • News

    Nigeria Requests AfDB Contribution Withdrawal

    By Ma. Rizza Leonzon // 12 May 2009

    Nigeria wants to take out its USD200 million contribution to the African Development Bank amid diminishing oil prices and weakening economy. If approved by the bank's board, the sum will be withdrawn from the USD330 million Nigeria Trust Fund,

    reported. The move will not impinge on AfDB's operation, according to bank treasurer Pierre van Peteghem, since the majority of the bank's funding is obtained from member countries, donors and borrowing.

    • Banking & Finance
    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Ma. Rizza Leonzon

      Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.

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