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IMF To Advice Board To Approve $3.4bn Emergency Funding For Nigeria

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Officials of the International Monetary Fund that examined Nigeria’s application for $3.4bn in emergency funding to respond to the economic damage caused by the coronavirus pandemic will recommend the approval of loan request when the Fund’s executive board meets on April 28, 2020.

A news report by Aljazeera citing two people with direct knowledge of the plan, said the loan is expected to be repaid within five years.

Nigeria also requested another $3.5 billion in total from the World Bank and the African Development Bank.

Sourced From: The Will Nigeria

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