FG seeks fresh $1.5bn World Bank loans for social programmes

•Bank to consider proposal October 29, total debt hits N166.79trn

The federal government is seeking fresh loans totalling $1.5 billion from the World Bank to fund programmes covering climate resilience, early childhood development and social protection.
This comes as Nigeria’s sovereign debt climbed to N166.79 trillion as at June this year.
The proposed financing consists of three separate $500 million loans, according to World Bank documents.
The loans are still being prepared and have not yet been approved.
The first $500 million facility is an additional financing for the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project.
The World Bank is scheduled t...