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Nigerian Senate approves $8.325 bln foreign borrowing plan - REUTERS

JULY 15, 2021

ABUJA, July 15 (Reuters) - Nigeria’s Senate on Thursday approved an external borrowing plan of $8.325 billion and 490 million euros from international lenders including the World Bank for infrastructure projects.

More than half of the funds will be provided by the Industrial Commercial Bank of China and the Chinese Exim bank, according to a Senate committee report titled 2018-2020 External Borrowing Rolling Plan. (Reporting by Camillus Eboh Writing by Chijioke Ohuocha; Editing by Toby Chopra)

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