BNW

B N W: Biafra Nigeria World News

Home |   About Us |   Contact Us |   Members |   Search |   Subscribe |   Disclaimer |   THE GUARDIAN CONSCIENCE, NURTURED BY TRUTH LAGOS, NIGERIA.     Wednesday, July 21 2004   news   editorial/opinion   policy & politics   focus/record   business   sports   capital market   metro   arts   money watch   energy   maritime   Guardian Chat Click to join the chatroom 210704 today: Nigeria gets N1.1 trillion World Bank loan From Isa Abdusalami (Jos) A LOAN facility worth N1.1 trillion ($8.38 billion) was approved for Nigeria in June this year by the World Bank. The Communications Officer of the World Bank Institute, Mr. Obadiah Tohomdet disclosed yesterday at a workshop organised for journalists in the North Central Zone of the country that the facilities were approved in the form of114 International Bank for Reconstruction and Development Association (IDA) credits for Nigeria. He said the late Head of State, Gen. Sani Abacha, during his administration between 1994 and 1999, stopped further loans to the country. Tohomdet said that since the inception of the present administration in the country, the bank had given 16 credits (loans) to the country, amounting to $1.63 billion. According to him, the commitment value of the 16 on-going operations in the bank is about $1.23 billion with an undisbursed balance of roughly $1.08 million. He stressed that the 16 active operations span all the major sectors of the economy. "Commitment fee is applied to undisbursed credit amount. Assessment of the amount depends on the rate approved by the Board every June (once a year,)" he said. The World Bank official said that "currently, the commitment fee is half of one per cent, and the amount starts accruing 60 days after signing the legal agreement." "A service charge is applied to disbursed credit amount. This charge is fixed and it is three quarters of one per cent (or 0.75 percent), he added. � 2003 - 2004 @ Guardian Newspapers Limited (All Rights Reserved).  Powered by dnetsystems.net dnet�

	BNW News
Voice of Biafra | Biafra World | Biafra Online | Biafra Web | MASSOB | Biafra Forum | BLM | Biafra Consortium
	© 2001 BNW BiafraNigeriaWorld  Privacy Policy ---------------------------------------------------------------------------------- Powered by ACENetwork ----------------------------------------------------------------------------------
	Axiom PSI Yam Festival Series, Iri Ji Nd'Igbo the Kola-Nut Series,Nigeria Masterweb