FG In Talks With World Bank For Fresh $1.25bn Loan
The Federal Government is currently in talks with the World Bank for a new $1.25 billion loan, according to a document obtained by Channels Television.
The document titled ‘Nigeria Actions for Investment and Jobs Acceleration’ noted that the proposed loan will finance ongoing economic reforms, job creation, and competitiveness.
According to the document, talks are at the critical stage for the loan facility expected to be presented for approval on June 26, 2026. The loan has progressed beyond the initial concept and appraisal phases.
If approved, it will come off as the second-largest loan facility after the approval of the ‘$1.5bn Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing’ approved by the Bank in June 2024.
The borrower is listed as the Federal Republic of Nigeria, while the Federal Ministry of Finance will serve as the implementing agency.
About The Author
