L
LequteMan
Guest
Nigerian Foreign Minister Geoffrey Onyeama, on Tuesday announced that Nigeria has secured a $6bn infrastructure loan from the republic of China.
According to Media Reports, the deal does not necessarily mean that China will credit Nigerian banks with the money, rather it will be tied to specific projects and will only released when it’s time to cash back the projects. That is the condition attached, so to say.
In addition, no agreements were signed. Once the Nigerian government identifies a project, the Chinese counterpart will then provide the funding. Maybe an agreement would be signed after then.
According to Media Reports, the deal does not necessarily mean that China will credit Nigerian banks with the money, rather it will be tied to specific projects and will only released when it’s time to cash back the projects. That is the condition attached, so to say.
In addition, no agreements were signed. Once the Nigerian government identifies a project, the Chinese counterpart will then provide the funding. Maybe an agreement would be signed after then.
