News President Buhari Seeks National Assembly’s Approval To Borrow $5.513 Billion Published 4 years ago on May 28, 2020 By The Octopus News Admin The Federal Government is set to borrow the sum of $5.513 billion from external sources. The fund is to finance the revised 2020 appropriation and support state government and they meet challenges occasioned by the COVID-19 pandemic. In a letter to the House of Representatives, President Muhammadu Buhari sought the approval of the lawmakers to borrow the amount from the International Monetary Fund, the World Bank, African Development Bank, Islamic Development Bank, Export, Import Bank of Brazil and the African Export, Import Bank. The letter which was read at plenary on Thursday by the Speaker, Rep. Femi Gbajabiamila states that $3.4 billion of the money is to come from the International Monetary Fund, $1.5 billion from the World Bank, $500 million dollars from the African Development Bank, while the Islamic Development Bank is to provide $113 million. The loan request was however referred to the House Committee on loans and Debt for consideration. Post Views: 668 Related Topics:IMFPresident Buhari Seeks National Assembly's Approval To Borrow $5.513 BillionWorld Bank Up Next Outcry Over Number Of Officers Guiding Derek Chauvin’s Home Don't Miss Edo 2020: Ize-Iyamu Emerges APC Factional Candidate You may like IMF Confirms Return Of Petrol Subsidy Under Tinubu World Bank Names Naira Among Worst Performing Currencies In Africa World Bank President, Ajay Banga To Visit Nigeria World Bank Approves $500m Women Empowerment Loan For Nigeria IMF Welcomes Unified Market-reflective Exchange Rate Regime Subsidy: President Buhari Set To Take N800m Loan From World Bank Click to comment Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ Polaris Bank AD Your browser does not support the video. AdFacebook Trending Society5 years ago How Socialite, Drug Peddler Toyin Igbira Died Music4 years ago Police Arrest Salawa Abeni’s Blackmailer Opinion4 years ago Why I said Anyone Opposed To Church Opening Will Die-Oyedepo News5 years ago See Open Letter Written By Pastor To Adeboye, Kumuyi Others News4 years ago Nigerian Army Arrest Soldier For Attack On Chief Of Army Staff Society4 years ago Happy Times Return For Sanusi Lamido Sanusi Music4 years ago Olori Ajoke Places Curse On Esabod Music5 years ago See Rarely Seen Photo Of Tekno’s Daughter, Skye