The second Federal Executive Council meeting took up the issues of the economy as the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun announced that President Bola Tinubu’s administration has secured $1.5bn zero-interest World Bank loan.
Mr Wale Edun said that the FEC meeting approved the application for financing from the World Bank’s International Development Association . ‘’Nigeria has been able to make the kind of macro-economic moves to take the tough decisions to restore balance in the economy in the government’s finances that have warranted support.‘’It is on this basis that the World Bank is willing to consider and to process on our behalf $1.5 billion of concessional financing, relatively cheap financing and financing that will be dispersed relatively quickly,’’ he said.
He said, ‘’This is basically to support young people and their quest to take on technology to use it to be employed to be trained and to benefit from being part of the knowledge economy.
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