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Nigeria becomes third-largest borrower from World Bank’s IDA
Nigeria has become the third-largest debtor to the World Bank’s International Development Association as of June 30, 2024, surpassing its previous position as the fourth-largest borrower.
According to the World Bank, Nigeria’s loan exposure from the IDA rose to $16.5 billion as of June.
This was published in a financial statement dated June 30 2024, recently released by the World Bank.
The IDA, a key arm of the World Bank, provides concessional loans and grants to the world’s poorest countries.
These loans, characterised by low interest rates and extended repayment periods, are designed to promote economic growth, reduce inequalities, and improve living conditions in developing nations.
The loans to Nigeria increased by $2.2 billion compared to the $14.3 billion recorded at the end of 2023.
Ahead of Nigeria on the IDA debt list are Bangladesh, with $20.5 billion, followed by Pakistan with $17.5 billion exposure.
India occupies the fourth spot with $15.9 billion, while Ethiopia, Kenya and Vietnam followed with $12.2 billion, $12.0 billion, and $12.0 billion, respectively.
The three countries at the bottom of the list are Tanzania ($11.7 billion), Ghana ($6.7 billion) and Uganda ($4.8 billion).
#nigeria is worth browsing and topping list .lol.God safe us nigerians
Nigeria has become the third-largest debtor to the World Bank’s International Development Association as of June 30, 2024, surpassing its previous position as the fourth-largest borrower.
According to the World Bank, Nigeria’s loan exposure from the IDA rose to $16.5 billion as of June.
This was published in a financial statement dated June 30 2024, recently released by the World Bank.
The IDA, a key arm of the World Bank, provides concessional loans and grants to the world’s poorest countries.
These loans, characterised by low interest rates and extended repayment periods, are designed to promote economic growth, reduce inequalities, and improve living conditions in developing nations.
The loans to Nigeria increased by $2.2 billion compared to the $14.3 billion recorded at the end of 2023.
Ahead of Nigeria on the IDA debt list are Bangladesh, with $20.5 billion, followed by Pakistan with $17.5 billion exposure.
India occupies the fourth spot with $15.9 billion, while Ethiopia, Kenya and Vietnam followed with $12.2 billion, $12.0 billion, and $12.0 billion, respectively.
The three countries at the bottom of the list are Tanzania ($11.7 billion), Ghana ($6.7 billion) and Uganda ($4.8 billion).
#nigeria is worth browsing and topping list .lol.God safe us nigerians
Nigeria becomes third-largest borrower from World Bank’s IDA
Nigeria has become the third-largest debtor to the World Bank’s International Development Association as of June 30, 2024, surpassing its previous position as the fourth-largest borrower.
According to the World Bank, Nigeria’s loan exposure from the IDA rose to $16.5 billion as of June.
This was published in a financial statement dated June 30 2024, recently released by the World Bank.
The IDA, a key arm of the World Bank, provides concessional loans and grants to the world’s poorest countries.
These loans, characterised by low interest rates and extended repayment periods, are designed to promote economic growth, reduce inequalities, and improve living conditions in developing nations.
The loans to Nigeria increased by $2.2 billion compared to the $14.3 billion recorded at the end of 2023.
Ahead of Nigeria on the IDA debt list are Bangladesh, with $20.5 billion, followed by Pakistan with $17.5 billion exposure.
India occupies the fourth spot with $15.9 billion, while Ethiopia, Kenya and Vietnam followed with $12.2 billion, $12.0 billion, and $12.0 billion, respectively.
The three countries at the bottom of the list are Tanzania ($11.7 billion), Ghana ($6.7 billion) and Uganda ($4.8 billion).
#nigeria is worth browsing and topping list .lol.God safe us nigerians