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LequteMan
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According to Finance Minister Kemi Adeosun, FG wants to tap financing at "concessionary rates" as low as 1.5 percent from international agencies to fund infrastructure projects before returning to the eurobond market.
Nigeria has held exploratory talks with the World Bank and looked at borrowing from the African and China Exim Bank to help fund a projected budget deficit of 3.3 trillion naira in 2016.
"(The) government was seeking the lowest cost funds and was therefore consulting with the multilateral agencies, which offered concessional rates of interest as low as 1.5 per cent, before looking at the commercial Eurobond Market," Kemi Adeosun said in a statement. She gave no details.
She said Nigeria wanted to restructure existing short-term debt and align the government's investment plans with its budget, adding that projects undertaken would have to generate revenues to repay the loans.
Reuters
Nigeria has held exploratory talks with the World Bank and looked at borrowing from the African and China Exim Bank to help fund a projected budget deficit of 3.3 trillion naira in 2016.
"(The) government was seeking the lowest cost funds and was therefore consulting with the multilateral agencies, which offered concessional rates of interest as low as 1.5 per cent, before looking at the commercial Eurobond Market," Kemi Adeosun said in a statement. She gave no details.
She said Nigeria wanted to restructure existing short-term debt and align the government's investment plans with its budget, adding that projects undertaken would have to generate revenues to repay the loans.
Reuters
