FG seeks $2.3bn loans from W/Bank, China …says no need for IMF loan

  |   Nigeria News

The Federal Government is seeking to borrow at least $1bn from the World Bank and another $1.3bn from China's Export-Import Bank, the Minister of Finance, Mrs. Kemi Adeosun, has said.

Adeosun told CNBC on Tuesday that the Federal Government was hoping to sign in the next few months a loan worth $1.3bn from China's Export-Import Bank to fund railway projects.

The minister, however, said there was no need to apply for an International Monetary Fund programme as the Federal Government was pursuing its own economic reform plan, Reuters reported quoting CNBC.

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