World Bank Releases $7b To Nigeria

November 11, 2016
World Bank Releases $7b To Nigeria


By Modupe Gbadeyanka

The sum of $7 billion has been disbursed by the World Bank to Nigeria, the global financial institution has disclosed.

The said amount, the World Bank Group explained, was released in form of loans to the Africa’s number one economy.

According to TVC News, the World Bank disclosed that the $7 billion was disbursed to Nigeria from 2012 to date.

It relied on statistics obtained from the bank’s web portal for this information.

The bank said the total loan portfolio is made up of concessional loans from the International Development Association and commercial loans from the International Bank for Reconstruction and Development.

World Bank stressed that its current portfolio in Nigeria stood at $8 billion, while a total of $4.7 billion, approved for the country, was yet to be disbursed.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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