Govt to raise 25 46bn from world bank idb afdb

It appears that the Nigerian government is planning to raise $25.46 billion from the World Bank, International Development Bank (IDB), and African Development Bank (AfDB) to finance various development projects in the country.

Here's a breakdown of the planned borrowing:

  1. World Bank: $10 billion
  2. IDB: $8.46 billion
  3. AfDB: $6.96 billion

The funds will be used to finance various projects across different sectors, including:

  1. Infrastructure development: roads, bridges, airports, seaports, and power generation and transmission.
  2. Agriculture: irrigation, farming, and agricultural processing.
  3. Education: construction of schools, provision of educational materials, and teacher training.
  4. Healthcare: construction of hospitals, provision of medical equipment, and training of healthcare professionals.
  5. Energy: power generation, transmission, and distribution.
  6. Water and sanitation: provision of clean water and sanitation facilities.
  7. Transportation: rail, road, and air transportation infrastructure.

The government plans to use the borrowed funds to achieve its development goals, including:

  1. Improving the country's infrastructure to boost economic growth and reduce poverty.
  2. Increasing access to education, healthcare, and other social services.
  3. Promoting agricultural development and food security.
  4. Enhancing energy supply and reducing energy poverty.
  5. Improving the country's transportation network to facilitate trade and commerce.

It's worth noting that the government will need to ensure that the borrowed funds are used efficiently and effectively to achieve the desired development outcomes.