The Nigerian government has been granted a sum of $200 million loan for the funding of the country’s Electrification Project (NEP).
African Development Bank Group Monday said it loaned $150 million for the project while the balance of $50 million was issued from the Africa Growing Together Fund (AGTF), a US$2 billion facility sponsored by the People’s Bank of China.
“The Board of Directors of the African Development Bank Group has approved a US$150 million sovereign loan to the Federal Government of Nigeria to finance the Nigeria Electrification Project (NEP),” AfDB said in a statement.
“The Africa Growing Together Fund (AGTF), a US$2 billion facility sponsored by the People’s Bank of China and administered by the African Development Bank, has also approved a US$ 50 Million Loan to the Federal Government of Nigeria to co-finance the project.”
