President Muhammadu Buhari has written to the National Assembly to seek a fresh $5.513bn external loan to finance the revised 2020 budget.
Senate President, Ahmed Lawan, read the letter to lawmakers during plenary on Thursday.
In the letter, the President explained that the loan will be used to finance the deficit in the 2020 budget and support critical projects from the State and Federal Government.
The external loan is $5.513 billion; $3.4bn will come from the IMF, $1.5 from the World Bank, $500m from (AfDB), and $113m from the Islamic Development Bank (IsDB).
No comments:
Post a Comment