Nigeria Business Information
No Result
View All Result
Saturday, May 28, 2022
  • Login
  • Register
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription
Subscribe
Nigeria Business Information
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription
No Result
View All Result
Nigeria Business Information
No Result
View All Result
Home Nigeria News

AfDB Approves Nigeria’s $288 Million Loan for COVID-19 Response Program

by Temitope O.
June 7, 2020
in Nigeria News
African Development Bank

The Board of Directors of the African Development Bank (AfDB) has approved a $288.5 million loan for Nigeria to tackle the COVID-19 pandemic and mitigate its impact on people and businesses.

The loan, according to the bank, will bolster the government’s plans to improve surveillance and response to COVID-19 emergencies, ease the impact on workers and businesses and strengthen the social protection system, a statement from the bank said yesterday.

The loan is the bank’s initial response to help mitigate the slump in oil prices and its impact on the Nigerian economy. “The proposed program will ensure that the fiscal position and the economy are sufficiently supported to weather the COVID-19 shocks, thereby limiting its potential adverse impact on livelihoods and the economy more generally,” Ebrima Faal, the Senior Director of the bank in Nigeria said.

Faal said beyond the country’s immediate economic recovery needs, the bank and other development partners would dialogue with the government on proposals for medium-term structural reforms to diversify and boost domestic revenues from the oil sector.

The bank has instituted strong fiduciary measures to monitor the use of COVID-19 funds, and will maintain dialogue, particularly with the Office of the Auditor General of the Federation to ensure adherence to the transparency and accountability of the funds, Faal said.

RelatedPosts

Federal Ministry Of Water Resources- Expressions Of Interest For Consultancy Services For Setting Up Of A Web Based Database And Dashboard For IBSDLEIP Using Least Cost Selection (LCS)

United Nations High Commissioner For Refugees (UNHCR)- Request To Quote For Installation Of Covid-19 Wash Hand Facilities

National Agency For The Control Of Aids (NACA)- Pre-Qualification Of Tender For The Procurement Covid-19 Related Commodities (3 Lots)

TOOLKIT: Are You New to Tenders/Contract Bidding and Require Assistance? CLICK HERE

Tags: African Development BankCOVID-19
ShareTweetShare

POPULAR

  • Individual Tin

    How to Check for your Individual TIN (Tax Identification Number) Online

    0 shares
    Share 0 Tweet 0
  • Check List of NGO/Governments Tenders with May 2022 Deadlines

    0 shares
    Share 0 Tweet 0
  • Plan International Nigeria- Request For Proposal (RFP) For The Provision Of Teaching & Learning Materials

    0 shares
    Share 0 Tweet 0
  • How to Check Your Ikeja Electric (IKEDC) E-bills Online

    0 shares
    Share 0 Tweet 0
  • Institution Of Human Virology, Nigeria (IHVN)- Invitation To Bid For Supply Of Laboratory Items

    0 shares
    Share 0 Tweet 0

Copyright © 2021. All Right Reserved Nigeria Business Information

No Result
View All Result
  • Home
  • Tenders
  • Auction
  • News
  • Grant
  • Subscription

Copyright © 2021. All Right Reserved Nigeria Business Information

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

instagram volgers kopen volgers kopen buy windows 10 pro buy windows 11 pro

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.