JUST IN: World Bank finally approves Nigeria’s $1.5bn loan request

World Bank cuts Nigeria’s 2021 growth forecast

The World Bank has finally approved Nigeria’s $1.5 billion loan request. In a statement on Tuesday, the Bretton Wood institution said the facility is a five-year country partnership framework (CPF) that will last from 2021 to 2024. The bank said the facility was prepared jointly with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). “This country partnership framework will guide our engagement for the next five years in supporting the government of Nigeria’s strategic priorities by taking a phased and adaptive approach,” Shubham Chaudhuri, World Bank…

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