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PRESIDENT MUHAMMADU BUHARI

FG approves plans for long term loans from World Bank

The Federal Government has approved plans for long-term loans from the World Bank, China and Japan with interest rates of one point two five per cent and maturity of 20 years.

According to reports, the loans would be received from institutions such as the World Bank, African Development Bank, Japan International Cooperation Agency, and Export-Import Bank of China.

The Presidency says the government is now waiting for lawmakers to approve the plans adding that details of a proposed Eurobond due later this year would be announced in due course.

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