Connect with us

Nigeria In One Minute

FG, W’Bank in discussion for $1bn power loan

Published

on

The Federal Government and the World Bank are in the final stage of negotiation for the release of $1bn performance-based loan for Nigeria’s Power Sector Recovery Programme.

It was gathered that the loan was currently being prepared for final approval based on the recent findings on the PSRP by the World Bank Group and the Federal Government’s progress on implementation of the programme.

The PSRP is a series of policy actions, governance and financial interventions to be implemented by the Federal Government over the next five years.

Its target is to restore the financial viability of the power sector, improve transparency and service delivery, resolve consumer complaints, reduce losses and energy theft and reset the Nigerian electricity supply industry for future growth.

It was further learnt that officials of the World Bank recently met with the Federal Government’s representatives and both parties agreed on steps to present the PBL to the bank’s board of executive directors for consideration.

Punch, February 26, 2018

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now