World Bank Approves $750 mln Credit To Boost Nigerian Reforms
World Bank
The World Bank said it has approved a $750 million credit line for Nigeria to help the country’s 36 states push through reforms to attract investment and create jobs. Several states in Nigeria struggle to pay salaries due to low revenues and resort to borrowing from the domestic bond market and banks to fund infrastructure projects. The World Bank said Nigeria had made progress in improving the ease of doing business but the country’s ability to attract domestic and foreign investment remained low compared with others.
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