FG to borrow $7.9bn from World Bank, ADB, others

    The Federal Government on Tuesday sough approval from the National Assembly for its intention to borrow $7.9 billion from the World Bank, African Development Bank, Islamic Development Bank, EXIM Bank of China and Indian lines of credit.

The intention was conveyed in separate letters to the Senate and House of Representatives by President Goodluck Jonathan.

The President indicated that the funds would be used to cover pipeline projects in the 2012-2014 External Borrowing Plan.

Under the plan, government will borrow $2.64 billion annually.


http://www.punchng.com/news/fg-to-borrow-7-9bn-from-world-bank-adb-others/

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Posted: at 14-02-2012 03:33 PM (13 years ago) | Gistmaniac

 

Posted: at 14-02-2012 06:13 PM (13 years ago) | Gistmaniac

what about the national cake?

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Posted: at 14-02-2012 11:17 PM (13 years ago) | Upcoming

 IBB, Buhari, Shagari, Abdulsalam, Abacha all borrowed to develope the north. Resources from the south is being used to repay the debts till today. Please GEJ borrow and borrow more if that one wont be enough to develope the south. Nobody shpuld talk to GEJ rudely oo.

Posted: at 15-02-2012 08:42 AM (13 years ago) | Newbie

We are always on the recieving end...Oliver twist. always asking

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Posted: at 15-02-2012 03:21 PM (13 years ago) | Gistmaniac