Federal government of Nigeria is reportedly seeking a $200 million “soft credit” from Germany for the establishment of a new development bank.
The Minister of Finance, Mrs. Ngozi Okonjo-Iweala, announced this ealier today, when a delegation of the German Government visited her in Abuja, Punch reports.
The purpose of their visit was for the minister to educate the German delegation on current economic developments in Nigeria.
In addition to revealing the country’s industrial revolution plan and also discussing the nation’s status as the largest economy in Africa, Mrs. Okonjo-Iweala also expressed that a Nigerian development bank is necessary to ensure a long-term loans for development of the country.
Gerd Mueller, who is the German Minister of Development Operations, has reportedly promised that the German Government would look at requests for the assistance made by the Federal Government, especially support for economic developments..
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