Nigeria got a caveat on Thursday to get approval for a $1.5 billion loan he is seeking from the World Bank. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Nigeria is in the process of taking a fresh $750 million loan, from the World Bank to help states overcome the effect of COVID-19. The World Bank expects Nigeria’s economy to shrink by between 3.2% and 8% in 2020, and government oil revenues could fall by a third or possibly more than half, said Chaudhuri. Nigeria has fulfilled the conditions for a World Bank loan and is in the final stages of closing the deal, according to Finance Minister Zainab Ahmed. ... 2020 6:18 pm In Business by ... Nigeria … Find Out . eXp World Holdings, Inc. (EXPI) Q4 2020 Earnings Call Transcript. The bank disclosed this in a statement entitled “World Bank Group to boost Nigeria’s efforts to reduce poverty,” on Tuesday. The World Bank has finally approved Nigeria’s request for a $1.5 billion loan. The World Bank has cleared Nigeria to receive the $1.5 billion loan requested by the country earlier in 2020. “This loan is in line with the Federal Government Plan of action for recovery. The World Bank in May released $176 million of […] “Nigeria is at a critical juncture. The World Bank has approved a $1.5 billion budget-support facility for Nigeria to help build a resilient recovery post COVID-19. The World Bank and the International Monetary Fund (IMF) loan cumulatively extended about $11.465 billion credit to Nigeria this year. To ratify the loan, the bank instated a Country Partnership Framework (CPF) which will sustain its engagement with the government of Nigeria for five years (2021 – 2024). Minister of Finance, Budget, and National Planning, Zainab Ahmed, announced this in Abuja on Friday. The World Bank Loan of 750 million dollars is to support interventions geared towards helping Nigerians recover quickly from the effect of COVID-19. ... Summary of IBRD Loans. 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